I always encourage young people who just entered the workforce to build up their Emergency Fund as soon as possible. Life is always unpredictable. You never know when you will lose your job or encounter personal finance crisis. Having an emergency fund can help to provide short term security against market uncertainties. It allows you and your family to carry on life as per normal whilst you embark on the recovery journey. Without this sum of money as interim support, you have no choice but to borrow from friends and relatives. Personally, I don't like to, and have yet, to borrow from my friends and relatives.
Of course, having this Emergency Fund is only one of the key elements of my personal finance. It would not help to enhance my wealth nor elevate me to another wealth level. To me, it is just another "shield" or protection for personal finance. My next course of action is to build up my Opportunity Fund - war chest for investments and business opportunities. I am confident that this Opportunity Fund can be built up in March next year. However, I believe the short term market condition is not conducive for investing. My belief is only to invest during crisis times. In the mean time, I am compiling research on some of the stocks and other form of investments in this blog. Stay tune for more updates!