09 Oct Why it is Important to Keep an Emergency Fund
It is hard to go through life and not think of the “what ifs?” “What if the old tree in the front yard falls on the house?” “What if the dog needs surgery?” “What if the old-faithful desktop computer finally decides to die?” Situations such as theses may require you to dip into some savings that you might not have. It can be safe to keep an emergency fund. An emergency fund will help protect you if something unexpectedly goes wrong. According to CNN, 28 percent of Americans do not feel that it is important to have an emergency fund on hand. When something unexpected happens, that is financially costly; not having an emergency fund can be expensive and take away from expenses you were planning to spend your money on.
Maintaining an emergency fund can be the extra-step on top of having a proper insurance plan. One common mistake when trying to maintain an emergency find is putting all your money away at one time. An alternative idea is saving $20 every time you get a paycheck, this way, over time your emergency fund builds up. Save for emergencies for today, so you can always enjoy life’s little surprises. Contact your local insurance agent today to see if your insurance policy will cover unexpected costly surprises. Call Spivey Insurance Group at 704.821.4460. Keep updated with Spivey Insurance Group on Facebook, Twitter, Google Plus, and Pinterest!