Why You Need an Emergency Fund and How to Get One

Why You Need an Emergency Fund and How to Get One
Mary Hunt urges readers of any budget to build a fund for emergencies. Vitalii Vodolazskyi/Shutterstock
Updated:

Four weeks before Christmas, Mitch and Jenn had a string of bad luck. Mitch broke his leg in a skiing accident. Jenn’s car broke down, requiring major repairs. And the aged roof of their home decided to fail right in the midst of a major storm.

The financial and emotional toll these events took on them was huge but nothing like it might have been if they hadn’t been diligently building a contingency fund, more commonly known as an emergency fund.

Mary Hunt
Mary Hunt
Author
Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book “Debt-Proof Living.” COPYRIGHT 2022 CREATORS.COM
Related Topics