**<center>Welcome To My Blog</center>**

We all know how inflation has damaged financial economy of the nations and even personal economy of individuals but nevertheless no matter what it is necessary to have **emergency funds**. We don't pray to losing our job or getting ill, yet as long as we are alive such things are prone to occur.
![photo15614149267f3f921a2e18.jpeg](https://i.imgur.com/pgV8Ifm.jpg)

[Source](https://unsplash.com/photos/0htQSq0TVB0)

Just as the name implies **Emergency funds** is a saving account put up for unforeseen circumstances. It is crucial to have an emergency fund since it will stop you getting into debt or having to liquidate your assets such as stock or property when financial troubles crops up.

**<center>Why Emergency Funds Is Important</center>**

**Financial Security:** 
Having your emergency fund offers you a feeling of financial security and fewer anxieties when an unforeseen issue comes.
Even before the unexpected situation comes up you will have peace of mind knowing you have money stored up someplace to fall back in case of necessity.
Even anxieties about how to solve such difficulties might generate further problems psychologically and physically wise that were not there before.

**Avoid Selling Assets:**
Have you ever been in a circumstance where you have to sell any of your assets only to solve an issue that wasn't prepared for?
That's why Emergency fund is needed. It may assist you to avoid selling assets such as stock or property at a wrong moment for an unforeseen circumstances.

**Avoid Debts:** 
Emergency Funds will avoid you getting into debt or having to accept loans with high interest to pay for unforeseen needs. It makes it easier to generate high credit ratings and even lets you be eligible for loans in the future which can be utilized for more important reasons.

**Flexible:** 
Emergency fund offers you the financial flexibility to take advantage of new chances that may occur, such as a new career or investment prospects if you lost your job and seeking for alternative sources of income.

**Makes you Prepared:** 
Why we pray for good things to occur we should also anticipate the worst. Having emergency fund helps you stay prepared for unforeseen circumstances like job loss, medical emergency, home repair, loss of someone. It helps you handle them with ease.

**Preserve your lifestyle:** 
When someone drops his or her work his financial life may certainly cripple if he doesn't save but an emergency fund may help you maintain your existing lifestyle and prevent having to make radical adjustments in the case of a financial disaster.

**<center>Conclusion</center>**

Emergency funds are separate from children tuition, groceries or meals for the family. These critical items should be included in your financial plan and not emergency fund.
N/B: Emergency grants are exclusively for unforeseen circumstances.

**Thank you for reading**


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