Tag Archives: Emergency Funds

Creating a Cash Reserve

Everyone has heard the statement, be sure to save for emergencies. But how does this translate into real life and your budget? To protect yourself and your family from uncertain financial strife, it is important to create a cash reserve. Essentially this is a highly liquid cash account which you can easily draw from in an emergency. Types of situations where you may need this type of cash could be: • Car Accident • House Fire • Sudden Medical Illness • Theft • Death • Loss of Job • Injuries • Lawsuit Of course, none of these things sound pleasant, … Continue reading →

Are You Living Paycheck to Paycheck?

Are you living paycheck to paycheck? If you lost your job tomorrow would you be okay? How long could you last without a paycheck? While many of us hope to never be put in this situation, it is important to realize that it could happen to anyone. When I was first married, my husband was laid off for about six months, because the building he worked in burned down. He had just started the job, and so he did not qualify for unemployment. He did find another temporary job with a major cut in pay, but it took him over … Continue reading →