Maintaining a reserve fund for financial shocks helps individuals avoid relying on credit cards or loans, which can lead to debt accumulation due to interest and fees.

Authors

• Person: Not available Organization: Consumer Financial Protection Bureau
  An essential guide to building an emergency fund

Sources

• An essential guide to building an emergency fund www.consumerfinance.gov Consumer Financial Protection Bureau via serper

Referenced by nodes (2)

• credit card concept
• loan concept