article thumbnail

How to Build your Emergency Fund

Family Balance Sheet

Life suddenly changed for most of us in March 2020 and this past year of the pandemic has reinforced how important an emergency fund is. If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. That emergency fund saved our business, our sanity, and our marriage.

article thumbnail

How to Build your Emergency Fund

Family Balance Sheet

With little money in their bank accounts, these Americans couldn’t afford these unfortunate expenses without using a credit card or maybe relying on a loan from family and friends. You see, we learned a valuable lesson many years prior about the importance of an emergency fund. What is an Emergency Fund?

article thumbnail

Over 40 and Worried about Money? Start here!

Family Balance Sheet

” Recently Go Banking Rates conducted two studies on savings rates with startling results. Start Saving for your Emergency Fund TODAY! We had a very tough year back in 2007. We reduced our spending where we could that year, but the money to pay any shortfall each month came from our emergency fund.