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What is an Emergency Fund and How to Build One

If you don’t have an emergency fund set up yet, you’re not alone. Only a quarter of Canadians have emergency funds set aside. And in those aged 18–34, as many as 35 percent have zero savings, let alone an emergency fund (yikes).

In the sections below, we’ll go over what an emergency fund is and show you some real, actionable changes you can make in your personal finances to free up extra cash for your own emergency fund. Don’t let life’s unpredictability win—we’ll help you stack your deck against any unforeseen expense that comes your way!

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Building an Emergency Fund on a Tight Budget

The existence of a healthy emergency fund is absolutely paramount for any adult. Unexpected expenses and occurrences happen all the time, often when people least expect them. A plentiful emergency fund can, and often does, determine whether or not an individual or family is ruined by financial hardship or able to foot the unexpected bill. Despite the importance of an emergency fund, not everyone has one. One of the most …

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10 Ideas For Living a Satisfying Life on a Modest Budget

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Being on a modest budget doesn't mean you can't live a full and happy life. Especially while engaging in all of the activities you enjoy. The problem is that people have become too dependent on money for finding satisfaction.

Some have even become addicted to gambling or getting payday loans in Canada when they don't even need them. In the city of Mission, a few people recently even resorted …

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8 Easy Steps To Get Started With An Emergency Fund

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In today's shaky economy, an emergency fund is more valuable than ever. You never know when life is going to throw you a surprise crisis. From your water heater dying to your car breaking down, you don't want to have to turn to a payday loan company to take care of basic survival needs.

An emergency fund gives you a financial safety net as well as peace of mind to …

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5 Real Life Reasons Why Canadians Need An Emergency Fund

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There is no doubt you've read and heard about the importance of having an emergency fund .  In today's questionable economy, an emergency fund is more invaluable than ever.  You never know when life is going to give you some blows, but they're sure to happen.  From your water heater going out, on to your car breaking down--you don't want to be left down and out and having to turn …

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