Basics of an Emergency Fund

I am going to throw a situation at you and I want you to think about what you would do if you were in the spotlight of this scenario: you walk into work to find out that you unexpectedly lost your job. The only income you have is your final paycheck that you will receive next Friday. Your utilities are due next week and your rent is due in 2 weeks. What would you do to insure that everything is paid on time? Would you put it on a credit card, beg mom and dad for help, or just ignore everything altogether?

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