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How to Build your Emergency Fund

Family Balance Sheet

In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. Unemployment and reduced income are considered emergencies, and so is a leaking roof, a broken hot water heater, or a dead car battery. Create a separate savings account and call it your Emergency Fund.

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How to Build your Emergency Fund

Family Balance Sheet

In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. That emergency fund saved our business, our sanity, and our marriage. Create a separate savings account and call it your Emergency Fund. Be diligent about how you use this account.

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Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

By the end of the month, my goal is to help you have a detailed financial plan for your family. Several years ago, our other vehicle needed new tires to pass inspection and our hot water heater stopped working. Once your finances are in order, your goal should be to increase that number to: three months of living expenses?