The Coronavirus Shopping Frenzy Is Proof That Emergency Savings Are a Must

As cases of COVID-19 continue to pop up throughout the country, Americans are taking desperate measures to keep themselves safe. Many are already choosing to self-isolate, and a large number are heeding advice to stock up on food and households supplies in the event of a multi-week quarantine.

But that's not an easy thing to do when you live paycheck to paycheck, which nearly half of Americans do, according to GOBankingRates. And that's precisely why having an emergency fund is crucial. Without cash reserves in the bank, you'll be ill-equipped to handle unplanned expenses large and small -- or, in this case, the expense of having to front the money for several weeks' worth of groceries.

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Source Fool.com