Why do you need an emergency fund? If you plan for emergencies such as a leaky roof, car repairs, and furnace replacements, you will not worry about getting things fixed or replaced. You may not want to spend the money, but it is a whole lot better than having to borrow or, worse yet, be so maxed out with debt that you are not able to borrow to get things fixed. Having an initial $1000 emergency fun that builds to 3-6 months of expenses will give you peace of mind that you can weather any storm.
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