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Why you need a cash reserve and emergency fund

As one of the leading LA Accounting Firms, from time to time we’ll provide valuable information to help you accomplish your financial goals. As we continue to struggle with the consequences of the global pandemic of the novel coronavirus, there are many lessons that can be learnt from how we reacted and how ready we were to deal with this unique challenge. Most people regardless of current situation would say significant room for improvement regarding response and preparedness is warranted. There will be books written about this event and lengthy analysis of where things were done right and wrong. A first-time mistake in cases as life and death as this one is not easily forgiven. Fortunately, this is a financial blog and the worst thing we deal with are losses of a replaceable asset.