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Be prepared for unexpected expenses by building an emergency fund from "summary" of Financial Freedom by Grant Sabatier
One of the most important aspects of achieving financial freedom is being prepared for unexpected expenses. Life is full of surprises, and many of these surprises come with a price tag attached. Whether it's a sudden medical bill, a car repair, or a job loss, unexpected expenses can quickly derail your financial plans if you're not prepared. That's where building an emergency fund comes in. An emergency fund is a pot of money set aside specifically to cover unexpected expenses. It acts as a safety net, providing you with a financial cushion when life throws you a curveball. Without an emergency fund, you may find yourself having to rely on credit cards or loans to cover unexpected expenses, which can quickly lead to debt and financial stress. Building an emergency fund starts with setting a realistic savings goal. Financial experts recommend saving at least three to six months' worth of living expenses in your emergency fund. This ...
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