MadAbout
Money
WELL STOCKED UP EMERGENCY FUND SITUATION
When we think about emergency funds, we tend to think about it as a short term goal. Strictly speaking that might be true but its implications and benefits are for much longer term and that’ s exactly why it features in our top moneygasmic situation list. Our Top 5 reasons for having a well-stocked emergency fund include:
1. Takes away most of the money related stress, worries and anxiety and provides a sense of security of having a reserve if you ever get into an tight spot
2. Softens the big blows of unexpected and sudden life events such as job loss or medical emergencies
3. Features as one of the crucial finance management tools since if one can be disciplined enough to save for an emergency fund, he / she would be able to save up for any financial goal that the person might have.
4. Acts as an intermediate source of finance between your income and your investments … that is, the half way mark where you can safely stand and use the money without disrupting any long term investments that you have
5. Makes the wild stock market swings more tolerable and emotionally less damaging since you always know that your survival would never be at stake – a true moneygasm situation indeed!
A TRULY MONEYGASMIC
SITUATION WOULD
BE TO HAVE A WELL-STOCKED UP EMERGENCY FUND! WELL, I DO REALIZE THAT YOU MIGHT NOT HAVE BEEN
EXACTLY THINKING ABOUT THIS, AS
IT DIRECTLY DOES NOT RESULT IN ANY ECSTASY FOR YOU PER SE … HOWEVER, IT INDIRECTLY
WORKS TOWARDS
KEEPING YOUR MONEY RELATED ECSTASY INTACT AND OVER LONG
TERM! AND IF YOU ASK ME, THAT’ S
EXTREMELY CRUCIAL!
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