The importance of having emergency savings cannot be overstated, serving as a crucial element of financial security. Emergency savings act as a buffer against high-interest debt and the forced sale of assets when unexpected expenses arise.

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The importance of having emergency savings cannot be overstated, serving as a crucial element of financial security. <a href="https://www.bankrate.com/banking/savings/emergency-savings-report/">Emergency savings</a> act as a buffer against high-interest debt and the forced sale of assets when unexpected expenses arise.
Photo credit: Getty Images

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