Planning for the unexpected can protect your financial future from "summary" of PSYCHOLOGY OF MONEY. by MORGAN. HOUSEL
Life is full of uncertainties. The unexpected can happen at any moment, disrupting our carefully laid financial plans. A sudden illness, job loss, or natural disaster can throw a wrench into our financial stability, leaving us vulnerable and struggling to make ends meet. This is why it is crucial to plan for the unexpected. By setting aside an emergency fund, you can protect yourself from unforeseen circumstances that may arise. This fund acts as a safety net, providing you with a financial cushion to fall back on when times get tough. It can help cover unexpected expenses, such as medical bills, car repairs, or home repairs, without derailing your long-term financial goals. ...
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