What if your car breaks down, you lose your job, or face an unexpected bill?
Putting money aside for emergency or unexpected costs isn’t easy, and it’s a challenge for people in many countries in the world. If you are one of them then an emergency or unexpected cost can tip you into financial hardship.
Being prepared for the unexpected, rather than dealing with it only when it arises, is key to your financial wellbeing. Not having any money saved for emergencies or unexpected costs may very well tip you into financial hardship. Estimates vary throughout the world, but experts recommend building up enough savings to cover at least 3 months of expenses, in case of emergency.