Life is full of surprises and a lot of them are not pleasant. Car transmissions fail. Water lines in your house burst. Life comes at you fast sometimes. That's why everyone needs an emergency fund.
An e-fund gives you peace of mind, keeps you out of debt, and helps you remain prepared for chaos. According to the Federal Reserve, 36% of all U.S. adults could not pay for a $400 emergency bill with cash.
You first goal should be to set aside $1,000 strictly for emergencies... By performing a few simple steps, you can create something out of nothing and have your first e-fund established to help your prepare for the unexpected.
Personal finance guru Dave Ramsey recommends $1,000 is a good starting point... you can't run before you can crawl. You have to start somewhere and $1,000 is the first goal to hit.
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