Why you need an emergency fund
“Most financial plans are derailed by unexpected expenses which is why having an emergency fund should be ones first financial priority– because no matter how well one plans, life happens,” says Mapalo Makhu, our Absa Money Wellness expert. It is easy to turn to personal loans, credit cards and overdraft facilities when you need to fill a shortfall. While these may provide a short-term solution, the long-term effects are costly. […]