Having an emergency fund enables you to pay for unforeseen costs without taking on more debt, as opposed to depending on credit cards or loans to cover emergencies. You can protect yourself against unanticipated finarummy novelncial hardships by making emergency fund building a priority among your financial goals. Saving more money while cutting costs. You can lower your costs & boost your savings by putting these strategies into practice. Your budget can be significantly expanded by reducing wasteful spending, such as eating out or subscribing to services. Also, over time, even modest adjustments to your daily routine can result in sizable savings.