Why might a person need an emergency fund?

For emergencies of course, like if you lost your backpack and you had your money in it and you don't have money on you and you're stranded then you'd of course have your emergency fund in your bank and if you still had your card (you should always keep your card in your purse or wallet never backpack) you'd go to the bank and use it to get home.

Why An Emergency Fund Is Important. People who've had large and unforeseen expenses arise can probably either tell you how happy they were that they had emergency fund s, or how difficult it was to find the money to cover expenses.