Vlog: How To Prepare an Emergency Fund
So while we look for a new vlogger to take over where Clint left off, here is a video about how to prepare an emergency fund from my new favorite how-to site, Howcast.com.
Do you have six months of living expenses squirreled away for a crisis?
Video credit: Howcast.com.
Nina, these were interesting tips. The timing is perfect, because I was just talking to a friend about this topic this morning. She and her partner are trying to decide if they can afford to buy a house. They want to build up an emergency fund before they even think about real estate, and she and I were discussing ways to build up her savings. I’ll be forwarding her this article for sure.
However, the tips assume several things: that you have a 401k deduction, and that you have health insurance benefits. Many of us don’t have either, so these tips just don’t make sense. I can get behind selling extra stuff on E-bay, etc. I’m actually culling through my books and CD’s to sell on Amazon to boost my savings account.
As for the tip about part time work, I think that’s really hopeful given that the job market is so tight right now. Good luck finding one full time job, let alone a part time job for extra cash.