Having a stash of cash is critical for a peaceful life. Cash is like the grease for life. Grease helps a machine operate smoothly. Cash helps your life operate smoothly.
Need to make a move? Need to make a quick trip? Want to seize a new opportunity? Unexpected expense? Having a nice pile of cash will allow you to operate smoothly and more effectively, even if it's not the only thing that's important for effectiveness.
That's why I think you should have more than just the requisite 3 to 6 month emergency fund. You obviously shouldn't forgo real investment opportunities that will grow your wealth by hoarding cash, but you should make sure you keep some powder dry for those unexpected events, both good and bad.
Cash isn't the only thing that allows for greater financial flexibility, however. Keeping a proper emergency fund -- most likely with the majority in a savings account instead of in cash -- will also protect you from financial suffering during difficult times.
And now, given the rise of cyrptocurrencies and crypto assets to quasi-mainstream financial assets, we're dedicated to providing quality, relevant, and interesting material on cryptocurrencies and cryptoassets. Articles on Bitcoin, Ethereum, Ripple, Cardano, and many more cryptocurrencies and cryptoassets can be found on Pennies and Pounds - all that in addition to a plethora of information on what cryptoassets are, how the entire crypto industry came to be, blockchain/immutable ledger technology, mining, proof of work, proof of stake, and how to prudently invest in crypto if you are so inclined (based on your risk tolerance and ability to withstand the volatility that will come with a crypto portfolio).