Sir, – Kevin McLoughlin wisely notes the importance of resurrecting the rainy day fund (Letters, July 14th).
The principles of economics are the same, whether one is managing the expenditure of the national coffers or managing one’s household budget. Common sense demands that one does not spend one’s entire monthly income. Sensible people regularly put away a few euro for the foreseen “occasions” and the unforeseen difficulties that arise in all lives. Such people also know that if one splurges on one item, one has to forgo spending on something else. Bring back the rainy day fund, please. – Yours, etc,
MARGARET LEE
Newport,
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Co Tipperary.