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Always have a financial safety net for emergencies from "summary" of A Sabedoria do Dinheiro by Roberto Navarro
In life, unexpected events can happen at any moment. These events can range from medical emergencies to sudden job loss. Having a financial safety net in place can help you navigate through these challenging times without facing severe consequences. A financial safety net is a reserve of cash that you have set aside specifically for emergencies. This reserve should be easily accessible, such as in a savings account, so that you can quickly access it when needed. The amount of money you should have in your safety net will vary depending on your individual circumstances, but having enough to cover at least three to six months' worth of expenses is generally recommended. By having a financial safety net, you can avoid going into debt when unexpected expenses arise. Debt can quickly spiral out of control, leading to financial stress and making it even more...
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