E
General
Emergency Fund
Money you lock away for when stuff breaks. Your car, your phone, your job. Three to six months of living costs is the goal, but even R500 a month helps. It stops you borrowing from mashonisas when life happens.
Usage Examples
"Bongani saved R12,000 in his emergency fund at TymeBank. When his bakkie engine blew up for R8,000, he didn't need a loan — he had it sorted. Three months later, his fund was back at R12,000."
"Zanele started with R500 a month in her Capitec savings account. After a year, she had R6,000. When she got retrenched, it bought her three months to find a new job without spiralling into debt."
"Andile's emergency fund saved him from a payday loan at 60% interest. His daughter got sick, medical costs hit R3,500. From his fund, not borrowed. That's why it's called an emergency fund."