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Building an Emergency Fund






It is essential to establish an emergency fund to avoid using your business account to cover unexpected expenses or emergencies. An emergency fund will help you cover unexpected expenses without having to dip into your business account. It is advisable to open an emergency account and make regular deposits into it. 

It is important to save frequently and without hesitation. To be consistent with previous research/findings. Save a fixed percentage of your income each month to your emergency fund so that you have money set aside for unexpected expenses. Regular payments should be saved. If you earn money on a monthly basis, you should put some of it away into savings. 

Building an emergency fund is a long-term process that requires dedication and careful planning in order to achieve success. If you want to save $30,000 in three years, you should focus on saving a little bit each day. It is important to save money regularly, whether that means every day, every week, or every month. It's important to be patient and understand that the money will eventually add up. Setting aside savings for emergencies can help you avoid getting into debt and ensure that you are not using your company's funds to cover unexpected expenses. 

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