Emergency situations can come at any time unexpectedly. Hospital bills, car breakdowns, not being able to pay the rent and other things where these things are not expected to happen and are likely to happen and it can happen to anyone. Situations like this can cause a person to be stressed with life. When unexpected things happen and salary or savings are not enough, how to find money immediately?

An emergency can happen to anyone, at any time. Suppose one day, we have to use RM10,000 for an unexpected emergency, and we have absolutely no emergency fund to use? As the saying goes ‘the sky is not always clear’, so is life. We don’t know what will happen in the future, maybe health benefits are withdrawn or maybe we are fired. So, the best we can do is make sure we are prepared enough to face these tough times.

These are among the tips in times of emergency:

· Use a credit card
Credit cards are most useful in times of need. You can use a credit card to pay unexpected bills (there are banks that allow installment payments to settle bills) or help you pay monthly commitments temporarily.

· Withdraw money from EPF Account 2
Savings Account 2 EPF can be withdrawn for selected medical emergencies or when you need funds for the monthly mortgage commitment.

· Add funds with side jobs
Try to replenish the funds with side jobs that do not take up too much of your time.

· Apply for a personal loan
A personal loan can be considered if you want a certain amount of cash. However, personal loans require a monthly commitment. Make sure you check and make a survey which loan is the most suitable.

· If You Get Bonus Money, Save It First
Many people make the mistake of spending until they get the bonus money. Remember the future before making the wrong decision. Bonus money if you save it in ASB, it will grow and that’s the money you should spend.

It should be remembered that emergency savings must be in the form of cash because in the event of something unexpected, one can continue to use the money in comparison to savings or other assets that have a lower liquidity value. In conclusion, this MCO period is a very suitable and practical time to all citizens practice a simple, thrifty and prudent lifestyle.

An emergency fund is important for financial stability and as protection for the future of you and your loved ones. May all Malaysians be able to go through a phase full of challenges in terms of physical, emotional, spiritual, physical including economic with full patience, conscience and moderation. Self-reflection and prepare an emergency fund for yourself and your family for those who are married. Having an emergency fund is something that is mandatory for everyone in fact. No human being plans to fall into an emergency, but it will definitely happen.