IndiaUnited Weekly Contest #16: The Crucial Role of an Emergency Fund: A Personal Perspective.

Hi guys, and happy Sunday to everyone, wherever you may be. It's another weekly contest from the indiaunited community, and this time I will be sharing my point of view about a topic that says, What's your plan for an emergency fund? For those that might want to partake in this contest, here is the link that you can go through to check out the contest and the criteria. This topic rang a bell in my head when I saw it, and I have decided to share my thoughts on it because it is a very sensitive and crucial topic to discuss.

What's your plan for an emergency fund?
First, in layman's terms, what do we refer as an emergency fund? Simply put, an emergency fund is any money that you have saved and can run to in times of emergency. These funds are readily available for you, no matter what goes wrong, you can access them at any day and anytime. Having this kind of saving is very important, and it has saved lives, if not many times, but in most cases.

My view on having an emergency fund.
To me, I will always advise someone to have an emergency funds because they are very important, just like I said earlier. Emergency fund is very different from the money we have for spending because this type of money does not go out if the need for it doesn't arise. This type of money is not the money that you take when your kid asks you for money for an appetizer, and you feel you have no money to spend, so you go ahead and remove it. No, this is far different from that.

My Personal Experience with Emergency Funds.
Once upon a time, while I was young, my mom and dad always told us to always have savings because it would help us whenever we wanted to do anything for ourselves. I never knew they were training us to be a better version of ourselves, and I took their advice and saved the little money I was given. Even when visitors come to our house and give me money, I keep it without looking back.

Then one day, I was to pay a fee on my college day, and then my parents were unable to pay this money because they were indisposed due to some reasons. It was getting to the deadline, and yet there was nothing to show for it. Then my emergency fund came in. I had to go back home, and I checked my savings to know the amount I had saved up, and I found out that it was the exact money I needed in my emergency fund savings. Then I took it to my parents, and they were very surprised.

My parents had no choice but to support me with the rest, knowing that I had sorted out the most, which would have made me fall out of school, and I was happy that I was able to save myself even when there was no help. Since then, I have made sure that, in whatever I do, having an emergency fund is very crucial. When you have an emergency fund, you will find some certain peace within yourself that there is no way you will not be able to tackle any urgent matters, but if it means to you to be broke while you are at it, I suggest you do because some emergencies can be associated with life, which we do not want to jeopardize. In whatever you do in life, ensure you have an emergency fund, it helps.