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4: Make Your Emergency Fund Plan

Make Emergency Fund Saving a Priority

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The first step in setting aside money for emergencies is deciding that it’s possible. If you never seem to have anything left from your paycheck after paying bills and living expenses, start thinking of emergency savings as a necessity.

Right now, it doesn’t matter how much you are able to save every month. The important thing is making the commitment so that your emergency savings becomes a habit. This single act moves you toward a healthier financial future.

Nobody can predict the future, but you know that unplanned expenses will arise. It makes sense to put aside money for those occasions, even if you don’t yet know what the money will be used for. Establish guidelines for how the reserved money can be used and how the fund will be replenished.

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