Life has a way of throwing financial surprises at us when we least expect them. You could wake up in a cold house in the dead of winter as a result of your heating system going kaput. Or you could go to start your car, only to find that it won’t so much as show the slightest sign of life. That’s why we all need emergency savings -- money in the bank to cover unplanned expenses that would otherwise leave us with no choice but to rack up debt. Of course, you don’t want to use your emergency fund for just anything, because really its purpose is to cover unforeseen bills. But here are a few times when you shouldn’t hesitate to tap your emergency cash reserves.
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