From there, I'd recommend my article
about emergency funding like a pro, but keep in mind this stuff is different for everyone, so your situation may call for a larger emergency fund.
Not exact matches
It's a tough call but people need do I suppose a better job of planning for life, that's why I come back to personal finance types
like me will talk
about having
emergency funds set aside for when that type of thing happens.
As I mentioned in my recent post
about what to do after getting out of debt, I
like the idea of having an
emergency fund.
There is no denying that in an
emergency situation — when the electricity is
about to be shut off or a car tire blows out — short - term payday loans can seem
like an attractive solution if
funds are tight.
Just don't be dumb
about it: make sure you keep cash aside for an
emergency fund and any major payments coming up,
like a downpayment for a car.
Another great piece of advice for those dealing with bankruptcy — if you filed Chapter 11 because you didn't have enough savings to survive a major financial setback
like a job loss, it is time to get serious
about setting up an
emergency fund.
If you're establishing the budget for your family, engage in an «open and honest dialogue»
about the household finances, taking into consideration things
like creating an
emergency fund, setting aside money for college and preparing for retirement, Brauer says.
I only have
about a couple thousand (after thoroughly taking care of everything else such as
emergency fund, future utility bills, transportation) with me, but would
like to start investing ASAP for retirement.
That article is more
about what to do with a large sum of money (
like paying off debt and building an
emergency fund)-- this one will help you learn
about a number of investments, investment methods, and investment tools that will lower your risk.
Instead of worrying
about debt, you can focus on things
like bulking up your
emergency fund or saving money for a down payment on a home.
This would be the Suze Orman of the world talking
about consumer debt
like credit cards, housing loans, insurance policies, different bank account types, CPF;
emergency funds, clipping coupons; etc..
Keep your
emergency savings in a low - risk investment
like a money market
fund so your money will be easy to access and you don't have to worry
about the value of your savings changing over time.
Think
about what you could do with the amount of cash back you receive,
like invest it into a high - interest savings account, pay down debt, build an
emergency fund, or use it towards another purchase.
Even if,
like me, you don't find the idea of an
emergency fund particularly interesting from a personal finance perspective, you'll still earn more in a high - interest checking account than you will in a fixed - income mutual
fund, a subject I've written
about elsewhere.
Think
about saving or maintaining an
emergency fund, whether you have insurance coverage to protect your family, and whether you have other debts that may be more expensive than student loans
like credit card debt.
Just don't be dumb
about it: make sure you keep cash aside for an
emergency fund and any major payments coming up,
like a downpayment for a car.