An emergency fund is a reserve of money for you to use in an emergency.

Having an emergency fund is always a good idea because it will help you avoid taking out high-interest loans or credit cards when you need cash.

Emergency funds can be for both significant and minor emergencies. It is up to the individual how much they want to save and what they would like the funds to be for, like whether they want it to be general or specific.

This fund is crucial because it’s a safety net you can use in an emergency. It ensures you’ll have enough money to cover your expenses, such as mortgage payments and groceries if you lose your job or experience some other unexpected financial setback.

Travel hacking is a unique hobby where people use credit card rewards, frequent flier programs and other travel loyalty programs to travel for free or as cheaply as possible.

Some people prefer to get as much value as possible from travel hacking. Others aim to get access to luxurious travel experiences they would not otherwise be able to afford.

Either way, traveling for free is possible with a bit of careful planning. It may seem too good to be true, but it’s not. My family has used credit card rewards to get free flights, hotel stays and cruises on more than one occasion.

I’d say we’ve easily earned over $10,000 worth of credit card rewards and free travel since we got started a few years ago. Here’s what you need to know if you want to start travel hacking as a beginner that has no experience at all.

The archetypal dad’s advice will sound familiar: new cars are for suckers. Depreciation means you’ll lose all the value the minute you drive out of the lot, so used is the only way to go. Or is it? We think it isn’t that simple.

While it’s true that new cars will undoubtedly lose a good chunk of value, it doesn’t mean a pre-owned car is an answer for absolutely everyone. And we’re going to tell you exactly why.

Learning how to save 50% of your income is a great way to set yourself up for financial independence. Maximizing savings is something anyone can do, regardless of income.