Emergency Fund Archives - The Money Coach

A couple sits on a couch, reviewing their budget with concerned expressions. A laptop and coffee cup rest on the table before them, surrounded by modern home decor, perhaps contemplating a call to their financial planner.

How to Prepare Financially for Unexpected Family Emergencies?

Personal Finance / AskTheMoneyCoach / Emergency fund, family emergency plan, Financial Education, Insurance Coverage, prioritize expenses

Life’s unpredictability means that unexpected family emergencies can happen at any time, often bringing emotional turmoil and financial challenges. To mitigate the financial impact of such situations, it’s essential to be well-prepared. A key step in this preparation is maintaining a dedicated savings account for emergency funds. This article delves into various strategies to ensure you’re financially […]

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A yellow traffic sign featuring a red, yellow, and green light symbol is partially submerged in water, much like how unexpected expenses can drown the best-laid budget plans, reminding one to consult a financial planner.

How to Bounce Back From Natural Disasters

Personal Finance / Lynnette Khalfani-Cox, The Money Coach / building resilience, Emergency fund, FEMA assistance, Financial Recovery, natural disaster

In my article on the Kiplinger Advisor Collective, I discuss the unprecedented number of major natural disasters that have occurred in the United States in 2023. It provides ten steps for individuals and families to recover from a natural disaster, emphasizing the importance of prioritizing physical and mental health, documenting damage for insurance claims, applying for FEMA assistance,

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Wooden letters spell "EMERGENCY FUND" on a dark surface beside assorted US dollar bills, highlighting the importance of careful budgeting.

7 Realistic Tips To Build An Emergency Fund

Personal Finance / AskTheMoneyCoach / automate savings, certificates of deposit, Emergency fund, Financial goals, Financial Stability, high-yield savings, money market accounts, passive income

Life is not a bed of roses. You may experience unpleasant and unexpected incidents in your life in which you need an emergency fund. Bankrate reports that 1 in 5 Americans don’t have an emergency fund. You never know if or when an injury, a financial loss, a disaster, a disease, or a bad situation will

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How Much Do I Need in My Emergency Fund During COVID-19

Saving Money, Covid-19 / Lynnette Khalfani-Cox, The Money Coach / Emergency fund

According to a Bankrate survey, 23 percent of respondents said their biggest financial regret is not having enough money in their emergency savings to withstand the COVID-19 outbreak. The coronavirus pandemic has impacted the financial standing of many Americans. While jobless claims have fallen since late March, nearly 18 million people are still receiving unemployment

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COVID-19: Why Saving Should Be Your Top Priority

Budgeting, Covid-19 / Lynnette Khalfani-Cox, The Money Coach / Emergency fund, Rainy day fund

Lynnette Khalfani-Cox, The Money Coach explains why despite the impact of COVID-19 on your finances you still need to find a way to save money for future emergencies and goals. Transcript Lynnette Khalfani Cox: Saving money is definitely hard these days, but you still got to do it. Let me tell you guys about why

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7 Reasons to Save More Money or Boost Your Emergency Fund

Personal Finance / Guest Blogger / Emergency fund

Saving money, and especially having an emergency fund, is actually incredibly important. Here are 7 reasons why you should save more money and working toward building your emergency cash cushion.

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How Is An Emergency Fund Different From A Rainy Day Fund

Family Finances / Lynnette Khalfani-Cox, The Money Coach / Emergency fund, Rainy day fund

In a recent interview I explain the difference between a rainy day fund and an emergency fund. I also share 6 tips to help jump start your rainy day fund. A rainy day fund is designed to cover one-time events without blowing your monthly budget. For example, $500 set aside just in case the sump

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Earn Extra Cash to Pad Your Emergency Fund

1 Comment / Saving Money / Lynnette Khalfani-Cox, The Money Coach / Emergency fund

Do you have enough socked away to cover your bills should you get slipped a pink slip? Typically I would say you should have enough savings to cover three times your monthly living expenses, but given this economy and the skyrocketing unemployment rate, six or nine months worth of savings is more ideal. Here are

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Emergency fund