Day 4: Building a Surplus Fund- Understand the importance of having a surplus (emergency) fund and how to start one, even on a limited budget.
More insight on Building a Surplus (Emergency) Fund
Start Small, but Start Now: If you’re unable to save a large amount initially, don’t let that discourage you. Start by setting aside a small portion of your income each month and gradually increase the amount as your financial situation allows.
A surplus fund provides you with financial flexibility and freedom. It affords you the ability to make decisions based on what’s best for you and your family without being constrained by immediate financial concerns.
In summary, a surplus fund is an essential component of financial stability and security. It provides protection against unexpected expenses, reduces financial stress, and offers the flexibility to pursue opportunities and make decisions that align with your long-term financial goals.