Setting aside money regularly for emergencies or major repairs is crucial. It’s recommended to save around 5% of your monthly income for such situations. This emergency fund acts as a financial buffer, helping you manage unexpected expenses without resorting to high-interest loans or credit cards. Having this safety net ensures you’re prepared for unforeseen events, providing peace of mind and financial stability.
*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*
