Always be sure to make and keep an emergency fund of Three Month Salary in a safe savings account. This money has to be reachable and we should be able to take it out anytime you want.
If the emergency fund is not a three month salary, at least you should have the expenses needed for three months and to support the family and the money to pay your credit cards in this period of time.
If you don't have emergency funds, your credit cards will suffer and it will lead to severe credit card debts.
If you are a family man, with your non-earning wife and dependant child/children, then definitely emergency fund is needed.
Source: Coimbatore Money
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