An account that is used to set aside funds to be used in an emergency,
such as the loss of a job, an illness or a major expense. The purpose of
the fund is to improve financial security by creating a safety net of
funds that can be used to meet emergency expenses as well as reduce the
need to use high interest debt, such as credit cards, as a last resort.
such as the loss of a job, an illness or a major expense. The purpose of
the fund is to improve financial security by creating a safety net of
funds that can be used to meet emergency expenses as well as reduce the
need to use high interest debt, such as credit cards, as a last resort.
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