ABSTRACT
One of the essential saving goals is to build an emergency fund, so that one can pay for unexpected bills such as a boiler breakdown, car repair, dental treatment, or a short spell of unemployment, without having to resort to expensive debt. Many households in the UK simply do not have adequate savings to deal with the unexpected. Financial freedom is very powerful because it confers many intangible benefits such as peace of mind, financial security, and the freedom and flexibility to live and work on one's own terms. Money is tight for many households. In the UK, around 67% are employed, relying on a salary as their main source of income. Without investments in property, business or equity, the majority of British households rely on salary or paid employment as their main source of income. This earned income can be disrupted by ill health, death or redundancy.
