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An Emergency Fund – Why You Need One

An emergency fund is money you set aside to pay for unexpected expenses. Like when your car breaks down. A trip to the veterinarian with your furry friend. Or a health issue. Life happens, so be prepared with an emergency fund. Set up one today and give yourself some peace of mind.

Setting up an emergency fund makes it possible to:

  • handle an unexpected expense without getting into debt
  • avoid high-cost loans (for example, a payday loan or credit card cash advance)
  • have financial control
  • have peace of mind

Read more here.

Article courtesy of the Financial Consumer Agency of Canada.