As the saying goes, Hope for the best and prepare for the worst! The question arises as to how to arrange money quickly, wherein an emergency strikes, but you don’t have an emergency fund ready.
You need to define the type of emergency, as in
- The amount you will need (like it could be a sudden medical emergency or a sudden house repair)
- Define the duration of the emergency, whether it is a short-term, one-time emergency, or a long recurring one?
- Assess if the income sources are intact or not?
The first step, when Emergency strikes and you don’t … Continue Reading