One of the most powerful steps you can take for your finances is to create an emergency fund. It might not sound like too much of a big deal, but having thousands of pounds available as a safety net provides some huge benefits.
So now that we understand the importance of having an emergency fund and what this is for, how much should you put aside for it? Let's run the numbers.
We now know what an emergency fund is, but why do we actually need one? Let's take a look at the importance and some potential scenarios why this is vital.