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How much of your income should be allocated for emergency purposes.
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[QUOTE="Augusta, post: 246116, member: 25283"] This is one area that makes me keep money alot because emergency might come and it will be a matter of life or death so one needs to always have something handy. I remember my late cousin that died because there was no money to get a car to move her to the hospital immediately.it was really a devastating period for the family and that really was a learning lesson for me and I will never stay without me saving money because anything can happen. Saving money isn't even easy as such it is better to be conscious about the act or else it would nit happen. I think it is good to save s5 least 25% of money coming into ones account. it shouldn't be about ones pay cheque alone but from all the money that hit ones account. You just have to keep at least 25% of it. To achieve this you would need to dump impulsive buying. Don't go for things that you just see. You would be spending money on frivolities ot things that are not your need. This will help you to save money Secondly, avoid borrowing money especially those that you would have to pay back with high interest. [/QUOTE]
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How much of your income should be allocated for emergency purposes.
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