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Posted: May 6, 2024
Setting aside a rainy day fund, also called an emergency or contingency fund, is important for any solid financial plan. Think of this part of your personal budget as a financial umbrella when life hits you with an unexpected downpour, whether it’s a car repair, job loss or medical emergency. Here are some steps to help you set up a fund that can save the day and keep mishaps from derailing your master plan.
Setting up and contributing to a rainy day fund is a key step toward financial security and peace of mind. With persistence and discipline, you can grow your fund to be a reliable safety net for life’s twists and turns.
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