GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
While most financial experts advocate having anemergency fund, we spoke with someone who doesnt.
He discussed with us the logic behind hisstance against emergency funds.
There are programs in place to safeguard against those such asinsurance and unemployment benefits.
Gabrail added, You might even be able to borrow from your family.
That means it would take three years to save up that amount.
Thats three years of savings that could go into retirement savings instead.
This means that your emergency fund is interfering with your ability to make a decent return on your funds.
The goal is to use it ONLY when you better.
The belief is that you could tap into your credit card if you were stuck with a surprise expense.
You could take a stab at get away without building an emergency fund for a few reasons.
While this isnt the best solution for everyone, we all haveunique financial situations.
Someone in this situation would definitely want to build up an emergency fund for their business and personal life.
More From GOBankingRates
Share This Article:
