An emergency fund is like a safety net for your finances. It's a pot of money you save to cover unexpected costs, like car repairs, medical bills, or job loss.

Why is it important?

• Peace of Mind: Knowing you have money saved for emergencies can help you feel less stressed.

• Avoid Debt: Instead of borrowing money, you can use your emergency fund to cover unexpected costs.

• Financial Stability: It can help you stay financially stable during tough times.