If you’re struggling to make ends meet, it’s understandable to half-joke that your credit cards act as your emergency fund. But if you can save and choose not to, content that credit will rescue you from any trouble that arises, you’re only tempting fate.

Give Me Back My Five Bucks breaks down the reasons credit is a poor substitution for savings when emergencies arise.

The most important reason to save up an emergency fund is that using it to pay your way out of a disaster is cheaper. Rather than suffer deeper debt compounded with more interest, you’ll be free and clear and able to start saving again.

Check out the post for more reasons why savings beats credit as a lifeline.

Why a line of credit is not an emergency fund [Give Me Back My Five Bucks]

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