What constitutes an emergency? While it is obvious that losing your job, wrecking your car, or major health problems fit the category, you really need to define “emergency” for yourself. This is a wise thing to do because it will probably keep you from frittering away your emergency fund on impulse purchases.
I [...]
Archive for the ‘emergency fund’ Category
Emergency Fund How To, Part 3
Posted in emergency fund, tagged emergency fund, how to, savings on November 21, 2007 | Leave a Comment »
Emergency Fund How To, Part 2
Posted in emergency fund, tagged emergency fund, how to, savings on November 20, 2007 | 4 Comments »
Where should you keep your Emergency Fund? I think you’ll do best if you keep it somewhere too difficult to access on a daily basis where it can earn a decent amount of interest. This eliminates anywhere in your house, your checking account, and, in most cases, a savings account associated with your local [...]
Emergency Fund How To, Part 1
Posted in emergency fund, tagged emergency fund, how to, savings on November 19, 2007 | Leave a Comment »
So, you want to create an emergency fund. How do you do it? Here’s a shocker: it all starts with goals.
First, decide how much you want to save. If you’re like most people, you probably have little to no savings right now. If that is the case, it can be a little [...]
Getting Started: Emergency Funds
Posted in emergency fund, tagged emergency fund, getting started, savings on November 18, 2007 | 2 Comments »
Previous posts have covered budgets and goals, which are necessary building blocks for a strong financial future. Another important element is the emergency fund. Once you decide on your goals and create your budget, funding your savings against future emergencies can keep you on track when bad stuff happens.
One of my dad’s favorite [...]