According to Investopedia, Financial Health is a term used to describe the state of one’s personal financial situation. Their definition goes on to say that there are many dimensions to financial health, including the amount of savings you have, how much you are setting away for retirement, and how much of your income Read More >
Archives for October 2015
How to Manage Your Emergency Reserve
Posted on: 10.20.15
Whether you are currently establishing your emergency reserve or your reserve is fully funded, it is important to manage your reserve account for maximum effectiveness. There are “rules of the game” you should follow so your reserve account can serve the purpose for which it was created. Remember, the primary purpose Read More >
How to Fund an Emergency Reserve on a Budget
Posted on: 10.13.15
The most important step in gaining control of your personal finances is establishing and keeping an emergency reserve. The primary purpose of an emergency reserve is to provide a cushion to protect you and your family in the event of an unforeseen and unexpected financial emergency. Without a designated emergency Read More >
What is the Appropriate Emergency Reserve Amount for You?
Posted on: 10.06.15
The primary purpose of an emergency reserve (a.k.a., a rainy day fund) is to provide a cushion to protect you and your family in the event of an unforeseen and unexpected financial emergency, such as the need for new tires or a new water heater. While an emergency reserve equal to one months’ committed living expenses Read More >