Sentences with phrase «using emergency cash reserves»

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.

Not exact matches

If she used those funds to pay down her mortgage to $ 92,000, she could then use her $ 72,000 of cash less $ 30,000 for a reserve for emergencies, net $ 42,000 to pay down the mortgage to $ 50,000.

Firstly, although I do have a cash reserve in a savings account that I can use for an emergency, it's in a postal access account.

If she used those funds to pay down her mortgage to $ 92,000, she could then use her $ 72,000 of cash less $ 30,000 for a reserve for emergencies, net $ 42,000 to pay down the mortgage to $ 50,000.

This cash reserve came in handy, and I was able to use it for «emergencies», that in the past, would have required the use of a credit card.

(considering EPF as savings) 2 — Review your life insurance coverage requirement after your marriage 3 — If you use your cash reserve, start RD for 12 months and start accumulating emergency fund again.

I think using a credit card is a viable option in many circumstances, but I think an emergency fund is more like insurance — you're paying a premium through lost interest, but you're gaining the safety of having that cash reserve should something happen.

One of the fundamental principles of personal finance is having six to twelve months» worth of living expenses set aside in cash reserves to be used in the event of an emergency.