If you are the “cicada” type, don’t count on your friend the ant to help you in case of a hard cost!
Know that an emergency fund is the best guarantee of your protection: unemployment, illness, or
even a happy unforeseen event, be prepared for any eventuality. In addition, having a “cushion”
allows you to avoid stress and anxiety, and therefore to be more ready to face unforeseen
events… and above all you will not have to go into debt or exceed your authorized overdraft,
these are themselves a source of additional costs.
Yes, but how do you build up this emergency fund?
First of all, assess your monthly needs (utilities, food, etc.). Then calculate enough to last 3
months, or even 6 months, of coverage for these needs.
Of course, it will take time to save an amount corresponding to six months of your basic needs.
Make a realistic plan. Set a monthly amount and stick to it regularly. If necessary, post your goal
and visualize your emergency fund savings to motivate yourself. Above all, don’t give up. And
don’t hesitate to reward yourself if it helps you. The hardest part is the first step!
Finally, choose a dedicated savings account, preferably with a good interest rate, and an easy
withdrawal option. But be firm, even if withdrawal is easy, do not give in to temptation.
Understand that an emergency fund is a crucial necessity!
