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Posted by marina at 12:29AM 11/07/08 in finance, Real Estate, Personal Finance, Business & Finance, Foreclosures Market
Emergency Fund
Most financial planners agree that having an emergency fund for a rainy day is the first step in a sound financial plan. “If there is one thing financially that will help you sleep better at night, it’s the knowledge that you have some money in the bank for a rainy day,” says Bankrate’s Senior Financial Analyst Greg McBride. Here is an article from Bankrate.com about the importance of having an emergency fund all the time. A lot of financial difficulties can be traced back to a few common root causes, according to McBride, and one of these is lack of emergency savings. For that reason you need to plan for the unexpected, whether for a dental bill or job loss. Why you need it Up until now you may have relied on home equity or credit cards for unplanned expenses or emergencies. If you tap home equity, you generally incur more debt (at least until you sell your home). If you use credit cards, you are committing future earnings to current spending. Neither of these is a d
- Saved By: marina
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- Groups: finance, Real Estate, Personal Finance, Business & Finance, and Foreclosures Market.
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