Amrita Jayakumar, NerdWallet Published 11:51 am CST, Friday, March 1, 2019 This article was first published on NerdWallet.com. Let’s be real: For millennials, having an emergency fund is way down on the financial worry list, behind student loan debt, medical bills or saving for a down payment. Some weeks, it can feel like you barely have enough money to get by, let alone put some away for a rainy day. But that cash stash can be crucial in preventing a debt spiral or keeping you afloat if you lose your job. Regardless of income, building your emergency fund doesn’t have to be intimidating. Start small, build a habit First, pick an amount you can put away on a regular basis, no matter how small. Then, commit to it. “It can be as little as $10 a week into a separate savings account,” says Lara Lamb, a certified financial planner at Abacus Wealth Partners in Los Angeles. Making a small contribution every week is less painful than shooting for an … [Read more...] about Don’t Freak Out About an Emergency Fund — Just Start One
Updated 7:51 am PST, Tuesday, February 26, 2019 FILE - In this June 15, 2018, file photo a canning jar filled with currency sits on a shelf in East Derry, N.H. An emergency fund doesn’t have to be wishful thinking when you’re building your financial life. Start small to build a habit, use windfalls to kick-start your fund and have a plan for irregular expenses. less FILE - In this June 15, 2018, file photo a canning jar filled with currency sits on a shelf in East Derry, N.H. An emergency fund doesn’t have to be wishful thinking when you’re building your financial ... more Photo: Charles Krupa, AP Photo: Charles Krupa, AP Image 1 of / 1 Caption Close Image 1 of 1 FILE - In this June 15, 2018, file photo a canning jar filled with currency sits on a shelf … [Read more...] about Millennial Money: Don’t freak out about your emergency fund
Establishing and maintaining a cash emergency fund, with an amount equal to six months up to a year’s worth your annual living expenses, is a foundational principle of financial wellness. Author, speaker, and financial coach Tarra “Madam Money” Jackson answers the question of where to get the money to finance your emergency fund The new personal finance podcast, Your Money, Your Life is sponsored by Prudential and hosted by Black Enterprise’s own Alfred Edmond Jr. This special series features a lineup of great guests, including The Breakfast Club’s Angela Yee; DeForest B. Soaries Jr., founder of the dfree Financial Freedom Movement; Tiffany “The Budgetnista” Aliche; and Jacquette M. Timmons, president & CEO of Sterling Investment Management. The show will cover money topics ranging from how to control your debt to our psychological relationship with our finance. A can’t miss! BLACK ENTERPRISE EditorsBlack Enterprise is … [Read more...] about YOUR MONEY, YOUR LIFE: EPISODE 6 – “Ways To Finance Your Emergency Fund”
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Michelle Singletary Washington Post January 27, 2019 If you’re able to save money in an emergency fund, you may be frustrated at the low return on your investment. But don’t be. This rainy-day money is meant to be safe, accessible, and ready for a storm.During a recent online discussion, certified financial planner Carolyn McClanahan joined me to answer questions from readers on where to park your emergency fund and whether you should pull out retirement money to pay off consumer debt. Here’s her advice. Q: Where should I keep emergency money? My grandmother kept her money in odd places like curtain rods. Advertisement McClanahan: Keep the money in a money market account so you earn some interest. Money markets typically provide the highest interest with the most liquidity. I would use these over plain savings accounts (lower interest) or … [Read more...] about Thank goodness for that emergency fund. But where should you keep the money until you need it?
IRR for power co-op emergency fund outTHE National Electrification Administration (NEA) has released guidelines for the implementation of a law governing the use of emergency fund among electric cooperatives (ECs). Signed in June last year by President Duterte, Republic Act 11039, or the Electric Cooperatives Emergency and Resiliency Fund (ECERF) Act aims to help these power firms rehabilitate their infrastructure after a natural disaster. The P750-million fund will be taken initially from the National Disaster Risk Reduction and Management Fund (NDRRMF), while the National Electrification Administration (NEA) will manage and disburse it. Under Section 8 of the implementing rules and regulations (IRR) of RA 11039, the “Build Back Better” concept must be integrated in the recuperation, rehabilitation, and reconstruction phases after a disaster to bolster the resilience of the affected EC’s infrastructure. Once the NEA has used half of the power co-ops’ emergency … [Read more...] about IRR for power co-op emergency fund out