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Inem
InemKnowledge Seeker
Asked: August 17, 2023In: Money & Business

Which situation qualifies for emergency funds to be touched?

Emergency funds is a special saving kept aside to get a head start in case an emergency occurs. It is said that everyone should set up an emergency fund in order not to easily enter debts. What kind of occurrences can ...Read more

Emergency funds is a special saving kept aside to get a head start in case an emergency occurs. It is said that everyone should set up an emergency fund in order not to easily enter debts.

What kind of occurrences can make one dip his hands to touch an emergency fund?

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  1. Andorlings
    Andorlings Newcomer Andorlings
    Added an answer on August 20, 2023 at 7:39 am

    Just as the name implies emergency saving funds I basically money that are being saved for emergency purposes. However it is absolutely not good and necessary for an individual to take emergency saving phones account as his or her regular savings account because they are meant for emergency purposesRead more

    Just as the name implies emergency saving funds I basically money that are being saved for emergency purposes. However it is absolutely not good and necessary for an individual to take emergency saving phones account as his or her regular savings account because they are meant for emergency purposes and until emergency activities happens that is when an individual is entitled to touch money like this. For example emergencies that could occur which will demand the requesting from phones that are for emergency purposes could be accident issues leading to unexpected loss of life or possibly an activity that is totally unexpected which is quite monetary demanding.

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