Cash sucking events does not mean emergency funds, but emergency funds will help in allievating cash sucking events.
My definition of cash sucking events is pretty huge, and it's probably a wider definition as compared to just what emergency funds can do.
I list some examples of cash sucking events below
4) Medical Bills
5) Parents' Medical Bills
7) Car? Not a necessity but it increases convenience if you have old parents or baby kids who may need to be rushed to the hospital anytime.
I don't really like the idea and concept of just emergency funds, or maybe the more commonly accepted idea that it is for emergencies only. This is especially the case for younger people.
And in my opinion, many emergencies could be covered somehow by adequate insurance. House damage? House insurance. Car accident? Motor insurance. Medical emergencies? Medical insurance. The list goes on. The rest of my thoughts does not apply if you do not have adequate insurance cover.