emergency fund

Financial Planner Reveals How Much Money Soon-to-be Retirees Should Have In Emergency Funds

by
Financial Planner Reveals How Much Money Soon-to-be Retirees Should Have In Emergency Funds

People save in emergency funds to overcome unexpected expenses like medical bills and home repairs or to stay afloat during job losses. However, high borrowing and living costs, relatively muted wage growth, job losses, and lower-than-expected job openings have severely strained US household budgets. The mounting pressure to accommodate rising costs has stunted Americans’ ability … Read more

Daughter Receives $20K From Parents To Pay For Her Wedding, Uses It For A House Down Payment Instead

by
Daughter Receives K From Parents To Pay For Her Wedding, Uses It For A House Down Payment Instead

Mike and his wife were keen to support their daughter’s wedding plans. To avoid the usual disputes over marriage preparations, they found a simple solution—giving their daughter $20,000 so she could organise the wedding as she pleased. Mike had estimated in 2015 that wedding costs in the Kansas City, Missouri area would be between $15,000 … Read more

How Much Should I Have In My Emergency Fund If I Live Paycheck to Paycheck? Two Experts Weigh In

by
How Much Should I Have In My Emergency Fund If I Live Paycheck to Paycheck? Two Experts Weigh In

Most people believe that one should have at least three to six months of living expenses saved up as an emergency fund. However, two experts argue that this approach may not be feasible in the current economic climate. Emergency funds are not just extra, expendable money in one’s bank account. This is a carefully planned … Read more