Rainy Day Fund 101: Why Do You Need An Emergency Fund?

A rainy day fund is a small amount of money that you can use for minor inconveniences and unexpected costs, such as car repairs, medical bills, or home maintenance. An emergency fund is a larger amount of money that you can use for major life events or crises, such as losing your job, getting sick, or going through a divorce.

Having both types of funds can help you avoid debt, stress, and financial hardship. They can also give you peace of mind and confidence to handle whatever life throws at you.

But how do you start saving for a rainy day fund and an emergency fund? And how do you know how much to save? Watch this video to find out the answers and more.

Don’t forget to like, comment, share, and subscribe for more videos on personal finance and money management. And if you have any questions or suggestions, feel free to leave them in the comments section below.

Thank you for watching and happy saving! 💰