For financial security and peace of mind, it is essential to have an emergency fund. It works as a safety net for your finances, giving quick access to money in the event of any unforeseen costs like house repairs, car repairs, medical problems, or job loss. Having an emergency fund will help you stay out of debt and keep your long-term financial plans on track.An emergency fund should typically be sufficient to cover three to six months' worth of living expenditures, according to financial e