Various forms of self financing include the use of credit cards, dipping into a 401 (k) or other retirement account or
using emergency cash reserves.
For Moerdler and Datskovsky, who are ready to move to the second tier of their investment pyramid, short - term activities will center on funding a retirement plan, saving more aggressively for their children's college education, and boosting
their emergency cash reserves.
You could also save your refund by building up
emergency cash reserves.
A 401 (k) can serve as
an emergency cash reserve, but most experts strongly advise against taking loans lightly.
Do have
an emergency cash reserve to cover 3 — 9 months of expenses before you begin investing.
And trust me, at some point life will pimp slap you in the face and it's going to be painful unless you have access to
an emergency cash reserve to get you out of trouble.
Make sure you have
an emergency cash reserve before you change deductibles.
«If you are committed to building
your emergency cash reserves, you may need to begin making some trade offs and lifestyle adjustments to help you reach your goal,» said Hutchinson.
A 401 (k) can serve as
an emergency cash reserve, but most experts strongly advise against taking loans lightly.
Financial advisers often recommend that people keep
an emergency cash reserve to guard against unexpected expenses or drops in income, and the same idea can apply to reward points.