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Level Up Your Life
emergency funds
A new poll from Bloomberg suggests that almost half of Americans would have a hard time affording a $100 emergency, like a speeding ticket, medical bill or other unexpected expense. Many Australians are in similar situations as well. Consider the idea that maybe this says less about people’s financial habits…
Especially when you’re just starting out, self-employment can be unsteady. You’re not sure when the next client will come or how long the gig will last. For this reason, one financial planner suggests doubling down on your emergency fund.
Having an emergency fund is commonly accepted (and good!) advice. When to spend it is addressed less often. To make it simple to decide when to use it, define what it’s for first.
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