Content for the worker
An emergency is when something unplanned
happens that needs attention straightaway.
It can happen at any time and can mean you
have to spend money even though you did
not expect to – for example fixing your car
if it breaks down, paying for medical bills if
you get sick or fixing something that breaks
down in your home. So saving money for
emergencies is a good idea.
To work out how much money you can save for
emergencies, you can prepare a budget. To
do this you need to work out how you much
your income is and how much your expenses
are, to find out how much money you have
left. Income is money coming in, for example,
from wages. An expense is money going out,
for example, on bills and food.