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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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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. We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. For more on that, read Our Debt Freedom Plan. Have you had weeks like that?

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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. Create a separate savings account and call it your Emergency Fund. Be diligent about how you use this account. A few years ago, our van needed four new tires to pass inspection.