Emergency cash reserve

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You may need to access cash easily and quickly to cover unforeseen expenses
or emergencies. A cash reserve should be set aside to cover these situations.
Often unexpected expenses pop up that requires quick access to cash. Setting
aside a certain amount of funds in an at-call account will allow you to access
your money at any time without penalty.
Setting aside a cash reserve to meet unforseen expenses should allow your
other investments to remain invested so you are not forced to sell, possibly at
an unfavourable time.
You may earn interest on your cash reserve. This amount is added to your
assessable income and taxed at your marginal tax rate.
You should review your needs regularly to check that your cash reserve is
holding the right amount of money.


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