Plan for unexpected expenses from "summary" of Investing Simplified by Chuck Price
When it comes to managing your finances, it's important to prepare for the unexpected. Unexpected expenses can pop up at any time, and if you're not prepared, they can wreak havoc on your financial stability. That's why it's crucial to have a plan in place for when these unexpected expenses arise. One way to plan for unexpected expenses is to create an emergency fund. An emergency fund is a stash of cash set aside specifically for unforeseen expenses. This fund should ideally cover three to six months' worth of living expenses. By having an emergency fund, you can avoid going into debt when unexpected expenses arise, giving you peace of mind knowing you have a financial safety net. Another wa...
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