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General Principles of Financial Planning · Budgeting and emergency fund
A client asks whether to use a home equity line of credit as their emergency fund.
A
It is an adequate substitute, since the funds are available whenever they are needed
B
It is unsuitable in every circumstance and should never form part of the plan
C
It is superior to cash, because no money sits idle earning a low rate of return
D
It is a supplement at best, since lenders can reduce or freeze lines in a downturn
I'm not sure about this one
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