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Covid-19 has upended our lives. It’s revealed how vulnerable we all are, how fragile our lifestyles can be, and how essential it is to have savings. Whether you’ve personally been affected by job loss or salary cuts or financial insecurity, there’s no doubt that the pandemic has emphasised how devastating it can be to suddenly be out of work and out of money.

No wonder then that conversations abound when it comes to the importance of having an emergency fund.

Sometimes known as a rainy-day account, a ‘f*ck off’ fund, or a financial safety net, the emergency fund is ultimately there to give you security in turbulent times. This is also why financial advisors such as Carl Richards and Manisha Thakor call it an ‘uncertainty fund’ — after all, the amount you need to save is ultimately a response to how much uncertainty there is in your life. …



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