Where do you turn to when you’re faced with a financial emergency?
Do you have an emergency fund (or a safety net) for a rainy day?
A little money put aside for a time when urgent cash is required. For example medical expenses associated with a serious accident or illness. A stash will get you by until you can claim on the insurance policy.
Without a sufficient financial safety net you could find yourself in financial ruins. Your options for paying for an unexpected expense may end up on a credit card or loan which will need to be paid off.
Or even worse… you may be left to make a medical decision based on financial circumstances, rather than what’s best for you and your family.
Already have an emergency fund? Fantastic, is it enough and is it keeping up with inflation? Unfortunately, the cost of unexpected expenses does not stand still.
Yet to create an emergency fund? You may be surprise how quickly you can create your financial safety net with automatic savings on a regular basis.
An emergency fund is a vital step in establishing a good financial foundation for you and your family.
IMPORTANT INFORMATION: The information and opinions contained in this article are of a general nature only and does not take into account the investment objectives; financial situation or particular needs of any individual or entity and does not constitute specific or personal advice. The information and opinions herein do not constitute any recommendation. No financial product or financial service should be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this article can change without notice. Although care has been exercised in compiling the information contained within, Modoras Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. This article has been prepared by Modoras Pty. Ltd. ABN 86 068 034 908, AFSL 233209.
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