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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. Your wants and dreams are secondary and should be saved separately. Create a separate savings account and call it your Emergency Fund. Be diligent about how you use this account.

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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. Your wants and dreams are secondary and should be saved for separately. Create a separate savings account and call it your Emergency Fund. The total cost of the replacements was $1000.

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Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

The total cost for the new tires and the dryer repair was $900. Several years ago, our other vehicle needed new tires to pass inspection and our hot water heater stopped working. An emergency fund is not a spending account. Create a separate savings account and call it your Emergency Fund. Absolutely!