Establishing a stash of emergency cash, or at least a way to get funds in a pinch, is a very important thing to do so that you can always handle the unexpected.

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• You can avoid overdraft fees. One of the best things about having an emergency stash of money on hand at all times is the ability to avoid debt because your accounts overdraw. Fortunately, creating a an emergency fund doesn’t have to happen overnight – just set aside a small part of every pay check until you reach the desired amount.
• You don’t have to beg family members for cash. Although it never hurts to ask family for help when you’re in a bind, you should still avoid doing it often – if you ask too many times, people will be less likely to help you out when you’re in need.
• You won’t default on your other bills. Emergency cash is a great way to make sure you can afford the unexpected while still paying your existing bills. If you don’t have a stash set aside yet, there are other ways to get emergency cash when you’re in need – like pay day loans. Cash advances are the perfect way to bridge the gap if you know you’re going to get a paycheck soon.

In addition to ensuring that you can cover the rest of your bills, emergency cash can also help you foot expensive medical bills or home repairs – especially if you don’t have insurance coverage.