Having a cushion of savings is a good idea on many levels. A savings account can protect you in the event of an emergency or unexpected cost. Surely you’ve had your car break down or require repairs resulting from an accident. Having good savings allows you to pay for these. Same with stuff around the house. A broken appliance that needs replacing. Not nearly as stressful if you have savings available to cover the expense.
Savings can do so much more than that, though. A good savings cushion can allow you to take advantage of opportunity, and can even lead to additional savings when purchasing items or services.
Our recent camper purchase is one example.