For the past one year, many of us have gone through uncertainties like job loss, business loss, salary cuts and even some met with bankruptcy due to COVID-19 impact. This is the reason why it is always a great idea to save some part of your income for your unforeseen needs or a need which is known as emergency or contingency. Analysts always suggest people to keep some part of their money aside to pay for unforeseen circumstances or future expenses. It can be large or small like medical expenses, unemployment, accident, car, or house repairment, home appliances repair or replacement, shifting home, any bills which need to be settled in full and final. So, anything which is unexpected and without financial support cannot be resolved is known as emergency or contingency fund. from IndiaTV Business: Google News Feed https://ift.tt/3rZCh4R
For the past one year, many of us have gone through uncertainties like job loss, business loss, salary cuts and even some met with bankruptcy due to COVID-19 impact. This is the reason why it is always a great idea to save some part of your income for your unforeseen needs or a need which is known as emergency or contingency. Analysts always suggest people to keep some part of their money aside to pay for unforeseen circumstances or future expenses. It can be large or small like medical expenses, unemployment, accident, car, or house repairment, home appliances repair or replacement, shifting home, any bills which need to be settled in full and final. So, anything which is unexpected and without financial support cannot be resolved is known as emergency or contingency fund.