“It’ll never happen to me.”
This is a sentence that is repeated the world over. No one believes that anything drastic will interrupt the smooth running of their lives. No one would consider that crossing a road when the green light is saying it’s okay could be a bad thing. No one would consider that their strict budget for their home would be interrupted by a refrigerator going kaput. Emergencies are those things that happen to other people, right?
Wrong.
Emergencies can happen at any time, any moment and any day of the week. All we can do is prepare for the unexpected. When something breaks down, it’s an easy and fast fix to turn to a company like Pretty Penny loans to save you when you’re in a sticky situation. Having the access to loans and credit cards is extremely handy in a pinch, but not everyone is going to be able to access those services. It makes sense to understand what you should be preparing for, though, and it’s for this reason that we’ve put together four things that you need to keep an emergency savings account for.
A Career Change. Making the decision to step away from a regular and secure income and study to do something new can be a blast to your steady bills. The thing is, an emergency fund of three to six months can mean that you can take that step for your career and still have everything covered that you need to cover.
A Life Saver. Your car is something that you rely on every single day, but if the brake pads are turning to dust through sheer wear, then your emergency fund needs to be tapped. You could be saving your life by replacing your brake pads as soon as possible, and your funds that you’ve got stashed means you don’t have to wait around to do it.
A Boiler Replacement. Being a homeowner is a big responsibility, but it’s also on you to replace the boiler and things similar to it. If you’re mid-shower and you feel the water shut off, you are stuck in a pinch. You could potentially be stuck, but for your emergency fund to rescue you and get you your hot water back.
A Sick Bed. Hospitalisation is a big deal, and when you find yourself too sick to work and you need time in hospital to recuperate, you still have to keep the house standing and the bills paid. An emergency fund can keep those bills being paid so that you can recover without panicking about how to meet your mortgage payments.
No one wants to find themselves out of pocket in any situation, but in an emergency, any situation can be handled much better. Don’t let yourself be in a situation where you can’t manage your finances and you find yourself short. An emergency fund could be your lifesaver whenever you need it; but if it’s not in place, you can’t use it!
