Once upon a time there lived two brothers. They were Mason and Michael. They had taken out $100 each to keep in an emergency fund to use for unexpected expenses. They had $200 of emergency funds in total.
One day, they went to the playground by bicycle.
Suddenly, it started raining heavily. They were drenched head to toe and wet.
On the way home, Michael’s bicycle accidentally hit a tree. The bicycle was broken. Michael was sad. 
They decided to use the emergency fund to repair the bicycle.
What is emergency fund?
An emergency fund is money you set aside for when an emergency upends your life and you need money to do what needs to be done. This includes the loss of your job, illness or a major repair to your home or car.
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