Do You Have An Emergency Fund? Want To Know How to Do It
Are you the type of person who pays their bills on time or even early? Are you careful with your credit card to always pay the balance in full each month so that you don’t incur an interest charge? Are you putting money into a workplace retirement fund? If you can answer yes, that’s great! The next question might not be so easy.
Have you created an emergency (rainy day) fund to take care of those unexpected expenses that always pop up? No? That’s an issue you need to rectify… right now! Don’t worry! It’s not hard to develop an emergency fund; but, it is necessary. If you don’t know how to build an emergency fund, or perhaps are wondering what it is, read on and let us help.
An emergency fund is what it sounds like – money put aside to help you take care of non-budgeted, unexpected expenses such as car repairs, job loss, medical problems, etc.. Many of us think that none of these will happen, however they always do eventually. The old saying “Murphy’s law” began there. (If something can go wrong, it will). If you have an emergency fund in place, you’ll be able to weather the storm with no problem.