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Everything You Need to Know About Emergency Funds

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An emergency fund can help you get out of an immediate financial situation, like an unexpected car repair or medical bill, or can help you cover your day-to-day expenses if you’re laid off, ill, or injured and unable to work. It can help you avoid impulse purchases while still keeping your money available.

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Answering Reader Mail: Can an EA salary support a family?

Musings of a High-Level Executive Assistant

You should have 3 savings accounts - retirement, rainy day, and emergency. Retirement is your 401k, CDs, cash, etc. Rainy day funds are for your vacations and major purchases. Emergency funds are for when you lose your job, want to switch jobs, have to buy a car, unforeseen medical bills, or anything urgent that you need.

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