As many of us grapple with the coronavirus pandemic, the importance of an emergency fund has come into sharp focus. But how do you save in a pandemic economy?
While it’s not easy, there are some strategies you can follow to boost your emergency fund – even when you’re in the midst of a global pandemic. Here’s what you need to know.
Why you need an emergency fund
Your emergency fund is how you protect your finances from the unexpected. Plus, a liquid emergency fund offers you freedom and flexibility.
“Cash liquidity matters in a stressful financial situation,” says Natalie Torres-Haddad, a financial wellness advocate and the host of the podcast Financially Savvy in 20 minutes. “It can take time to liquidate property and investments. When you need the cash, you need it now.”
Even a small amount can