This post comes from partner blog Blueprint for Financial Prosperity.
Having an emergency fund is one of the cornerstones of a solid personal-finance plan. Whether you subscribe to saving enough to cover three months, six months or a full year of expenses, an emergency fund is something that every single person and family needs.
An emergency fund enables you to weather difficult times -- especially since they seem to cluster -- without getting in an even worse situation.
Some people rely on credit cards to supplement an emergency fund, and others will use them only as a last resort. But ultimately you need to have an emergency fund that matches both your needs and the chance of a bad thing happening.
For those of you who understand risk analysis, the part people understand best is the impact or severity of a risk.
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