The COVID-19 pandemic has shut down economic activities, placing nearly half of the global population under some form of a lockdown to prevent the spread of the virus. As the health and human toll continues to surge, so does the economic damage which represents the deepest recession since WWII.
We may be far from winning the battle, but we are slowly transitioning to recovering from COVID-19. If there’s one thing that the past year has demonstrated, it’s the value of having a contingency plan, including an emergency fund to help us tread the waters long enough to come out the other side.
The Benefits of Having an Emergency Fund
Even without a pandemic, most small businesses will run into cash flow issues at some point, with the most common financial challenge being paying operating expenses.
Having an emergency fund assures you that you have the right amount on hand to … Read More
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