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How to Build your Emergency Fund

Family Balance Sheet

Create a separate savings account and call it your Emergency Fund. Be diligent about how you use this account. It might be best to use an account that isn’t linked to an ATM card, thus making it somewhat annoying to reach the funds, but not difficult when you do actually need them. Where Should the Money Go?

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

Three to six months living expenses used to be what the personal finance experts recommended, but in today's environment, maybe six months to a year is more prudent. Save it and forget about it. Which comes first: saving for an emergency OR paying off debt? It is for emergencies. Do you have an emergency fund?