Emergency Fund | Definition

/əˈmərjənsē fənd/

An emergency fund | spac | atm | apr | definitionsis a large amount of money set aside, typically in a savings account | expense | economy | pension | bitcoin | 401(k) | lender | wealth | return | grant | asset | check | fafsa | will | wage | fdic | bank | loan | bond | definitions| underwater loan | withholding tax | underemployment | investment firm | diversification | passive income | cryptocurrency | dividend yield | active income | bank transfer | bank product | deposit slip | money market | bank deposit | working poor | forbearance | credit card | stockbroker | fringe loan | underbanked | scholarship | beneficiary | mutual fund | chexsystems | stock split | trust fund | investment | debit card | withdrawal | work study | tax credit | employment | index fund | reconcile | co-signer | net worth | deferment | liability | redlining | black tax | treasurer | reimburse | ownership | monetary | interest | unbanked | currency | altcoins | definitionsin case of any unexpected financial surprise. Those surprises can include a job loss, medical emergency, car repairs, etc. The purpose of having an emergency fund is to avoid borrowing money and going into debt.

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