option is better to start saving towards emergency?
What would you do if
your car broke down tomorrow and the mechanic told you it’d cost N200,000 to
get it up and r usatimes.cc unning again? Or worse, what would happen if you got laid off
tomorrow? How long would you be able to pay rent while unemployed?
If you don’t have a good answer to these hypotheticals then you
need to consid
usanews.cc er having a emergency fund. Without an emergency savings fund, unexpected expenses could cause people to go
into debt and spend hundreds on interest fees.
An emergency fund is
money you hav
news e saved in order to cover unexpected expenses. This means you have
money on hand to cover anything from a medical emergency to car repairs to a
month of overspending during the holidays. Essentially, building an emergency
fund is the first step to not living salary-to-salary.
What option is better to
start saving towards emergency?
While your regular savings account in the bank might work,
an automated online savings platform like fundall.io is better because It will
earn you significantly more money in interest. This helps you grow your
emergency fund faster and gives you a nice reward for saving your money instead
of spending it.
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