emergency account

Preparing for a recession

Posted 27 weeks 4 days ago by Philip Brewer

I don't know if a recession is coming. Nobody does. We may dodge the bullet for a while. On the other hand, the economy may already be in recession. You don't need to know the future, though, to make some wise moves.

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Figuring the size of your emergency fund

Posted 39 weeks 5 hours ago by Philip Brewer

Personal Finance

The usual rule of thumb is 3 to 6 months' income. Of course that's silly--the size of your emergency fund needs to be based on your spending, not your income. But even 3 to 6 months' spending is an arbitrary figure. Here's a few tips on sizing your emergency fund.

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Stash Your Cash: Developing a Replacement Plan for Emergency Savings

Posted 49 weeks 1 day ago by Myscha Theriault

Personal Finance

We all hear and respond to the popular advice of stashing away an emergency savings account for those unexpected bumps life throws our way. We tuck away tax returns, bonuses, rebates and any extra bit of cash we can carve out each month. Finally, we reach our magical goal of having a few months’ or years’ worth of cash. Then, many of us kick back, start spending, and think we’re fine. Or are we? When the unexpected happens and we need to dip into our hard-earned savings account, how will that money be put back? Without a replacement plan, our emergency savings account can represent a false sense of security. How can we make sure these funds have a safety net?

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