The advantages of starting your emergency fund
Emergency budgeting provides us with a safety net for unpredictable moments, allowing us to be ready for whatever is thrown our way without being overwhelmed by financial stress. Planning and preparing for emergencies in advance gives us a sense of control and peace of mind. People who save money report better overall well-being and less psychological distress. 3
It's OK to start small!
Emergency budgeting isn’t solely about saving money. It’s changing your mindset and being ready for anything life throws at you. By having an emergency budget, we build financial resilience and protect any long-term goals we may have, even when faced with unexpected road bumps.
The mindset shift
2 Holkar M and Mackenzie P. Money on Your Mind. Money and Mental Health Policy Institute. 2016. Derived from UK-wide survey of 5,500 people with lived experience of mental health problems.
3 Helm, S., Serido, J., Ahn, S.Y., Ligon, V. and Shim, S. (2019), “Materialist values, financial and pro-environmental behaviors, and well-being”, Young Consumers, Vol. 20 No. 4, pp. 264-284.