Importance of an Emergency Fund For Married Couples

You're going along fine and then out of the blue, some emergency pops up - requiring extra money. What if you don't have that extra money? This article discusses the importance of an emergency fund and some of the reasons married couples need one.

Importance of an Emergency Fund For Married Couples
By [http://ezinearticles.com/?expert=Kristi_Patrice_Carter]Kristi Patrice Carter

If you're married (whether you have children or not), an emergency fund is extremely important. It can be very easy to put your extra money into eating out, new clothing, movies or something else. However, placing your extra money into an emergency fund for your family will be one of the best things you ever do. This article discusses the importance of an emergency fund for married couples.

Medical Bills -

Unfortunately, accidents happen. If something were to happen to you or your spouse - such as a sickness, an injury or something similar - would you be able to afford the medical bills? If you're unable to pay your medical bills, they can negatively affect your credit, ruining your chances of getting a loan to purchase a home, a vehicle, or anything else.

An emergency fund is a great way of stashing some money that you can use if a medical emergency comes up. If you have children, you know how often they fall, get injured, become sick and need to visit their physician. It's essential that you have an emergency stash to work with incase something really important comes up!

Loss of a Job -

In most marriages today, the household depends on two sources of income. While it's difficult, the truth is that a lot of people are living paycheck to paycheck. With the economy in the shape it's in currently, this is even more relevant. If you or your spouse lost your job, would you be able to make it? Could you handle the monthly bills until you're able to find work again?

This is a very scary situation to consider, but it happens all the time. Good people end up losing their homes, their vehicles and much more because they had no resources to protect them when they or their spouse lost a job. An emergency fund can be a great cushion in times like this.

General Emergencies -

Throughout the circus that we like to call life, we are often surprised by emergencies that require immediate attention. For instance, a family with only one vehicle wakes up to find that their car won't start and they need a new one. A hurricane is bearing down on your family home and you need to evacuate, but you also have to pay your monthly bills. There are all sorts of emergencies that can pop up and if you're not prepared, it can be tragic. An emergency fund will help you deal with these little problems as they arise, and the big problems as well!

Although we'd like to live in a world where there are no emergencies and everything stays calm and in order - we don't. So, we compensate by being prepared for the worst and hoping for the best. You can prepare for life's emergencies with an emergency fund, helping you pay for the things you must pay for, but still have the money you need for your monthly bills. Life will go on either way, but with an emergency fund - it will go on in a better way!

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