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What is the relationship between an emergency fund and credit/loans

Sagot :

DrippQueenMo

Answer:

Explanation:

Assets in an emergency fund tend to be cash or other highly liquid assets. This reduces the need to either draw from high-interest debt options, such as credit cards or unsecured loans, or undermine your future security by tapping into retirement funds.

An emergency fund is where you save money for unexpected expenses. Using credit/loans is when you borrow money for stuff, but you have to pay back monthly payments.

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