10 Wrong Financial Decisions And How To Recover


2. Not saving for emergency funds

Emergencies are expected at any time. Saving some money as emergency funds comes as the last in the priority list for most of the people. Your car might require a pricey repair or you might find your house roofs leaking suddenly one day or an unexpected costly medical test.  All such situations can arise in any one’s life unexpectedly. But the question here is, whether you are ready for face such unexpected situations. If yes then well and good but if no then you must always set aside some funds as an emergency saving and use it during the time of need. But often it is found that, most people put these emergency expenses on a credit card. So, to avoid much debt burden, start saving funds for such emergency situations from today. Remember borrowing is not always good. Plan to save six months’ worth of living expenses so that you can use it during an emergency.

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