Save for the rainy day… it might take a little longer for the sun to shine!
Welcome to the final part of our Quick Maths series by FSDH Asset Management, where we’re giving you simple personal finance tips you can master, to achieve your financial goals.
In the last three series, we showed you how to generate income to start your business, how to diversify your income and how to get the best out of your net income and now we want to teach you how to save for the rainy day.
What do you have saved for the rainy day? Nothing?
We can plan for a lot of things in life, but sometimes, the unexpected just happens. These are the times you face bigger-than-expected bills, but having an emergency fund can make it easier.
An emergency fund is money kept aside in case there are emergencies or problems in the future.
Now, listen! An emergency fund isn’t for your everyday needs or special wants, so leave your sinful indulgences out of it, and no! flash sales are not emergencies either.
We partnered with FSDH Asset Management Ltd to bring you this guide to help you understand why you need to have an emergency fund and how to start building up your emergency fund(s).Having an emergency fund prepares you for the unexpected expenses yet to come - @fsdhcoralfunds Click To Tweet
Topics this guide will cover:
- What is an emergency fund?
- How much money should you have in an emergency fund?
- The difference between emergency funds and investments
- Ways to set aside emergency funds
After reading this guide, you would be one step closer to achieving your financial goals. If you want to keep slaying in your finances, be sure to read up on our previous quick maths series, you’ll be glad you did!
FSDH ASSET MANAGEMENT LTD – FSDH AM is a wholly owned subsidiary of FSDH Merchant Bank Limited. They are one of Nigeria’s leading asset management and financial advisory firm.
FSDH AM is versatile in financial transactions and investment strategies that meet the need of investors in an emerging economy like Nigeria. They recognize that today’s investors need the services of dedicated and expert professionals to provide them with intelligent investment counsel.
Therefore, their strategies are dedicated to preserving investors’ wealth while maximizing the value that they receive.
Once you’re through with this guide, visit FSDH Asset Management Ltd to know more and get all your pressing questions answered.
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