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Post by Mr. Meyer on Sept 17, 2015 0:22:32 GMT
How can an emergency fund help you protect and grow your wealth?
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Post by clarahanger on Sept 22, 2015 14:40:49 GMT
An emergency fund prevents you from having to take money out of your account for emergencies. If you keep your emergency fund separate, you have the freedom to save and invest your money to grow wealth rather than worry about having to use it for an emergency.
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Post by booklover468 on Sept 22, 2015 15:43:02 GMT
I agree with Clara. An emergency fund helps you not to worry so much about when an emergency happens, so that way you can focus more on saving for other things
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john
students
GVW Volunteer firefighter. If it flys it dies, if it hops it drops!
Posts: 20 
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Post by john on Sept 23, 2015 13:31:49 GMT
yeah i agree keeping the emergency fund separate allows the money in your account to build up interest.
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Post by hgore on Sept 23, 2015 14:27:54 GMT
I agree with John. You should be able to use your money when you need it without it hurting your wealth
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dj
students
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Post by dj on Sept 23, 2015 14:33:55 GMT
I agree with John. Having an emergency fund building interest is a good way to slowly generate more money over time. also being able to your emergency fund to pay for emergencies rather then going into savings or using a credit card is important to protecting your long term wealth.
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Post by mckenna on Sept 23, 2015 14:35:25 GMT
I agree with Hunter. You shouldn't be constantly searching for money and having to pull from your growing wealth when you have an emergency
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Post by elliesessions on Sept 24, 2015 15:13:58 GMT
An emergency fund can protect your wealth when you have an emergency by letting you be able to pay to fix it without going into debt.
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Post by laurenhanger on Sept 24, 2015 19:49:15 GMT
An emergency fund can protect your wealth when you have an emergency by letting you be able to pay to fix it without going into debt. I agree with Ellie. Emergencies happen unexpectedly so an emergency fund will help prepare you if anything happens. If you don't have an emergency fund and something happens, you could go into a lot of debt because you weren't expecting to pay that expense. |
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Post by kathrynmeyer99 on Sept 24, 2015 20:38:10 GMT
With an emergency fund you can continue to save even if you lose your job then you will have something that can help pay the bills until you find another job. |
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Post by michaelameyer on Sept 24, 2015 20:42:53 GMT
An emergency fund can protect your wealth when you have an emergency by letting you be able to pay to fix it without going into debt. I agree with Ellie, that an emergency fund helps you to keep your wealth protected and to help you save money for only emergencies and not to get the money confused or mixed with your other money and if there was an emergency you can pay for it instead of getting into debt. |
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Post by Katie Mahoney on Sept 25, 2015 14:27:31 GMT
An emergency fund will allow you to cover an emergency without having to use your spending money and messing up your budget. This will keep you from going into debt.
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Post by jonathan on Sept 25, 2015 17:41:38 GMT
An emergency fund will allow you to cover an emergency without having to use your spending money and messing up your budget. This will keep you from going into debt. I agree with Katie it helps keep you safe from unexpected emergency's |
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Post by coyjohnson on Sept 28, 2015 1:25:20 GMT
An emergency fund will allow you to cover an emergency without having to use your spending money and messing up your budget. This will keep you from going into debt. I agree with Katie it helps keep you safe from unexpected emergency's I agree with this. And I think how so many people go into debt is when they do not have an emergency fund, they use credit, which is really just postponing the inevitable. Possibly even making the problem now put off in the future worse in many ways. Another emergency comes, and there is even more debt, so they use credit again. |
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dora
New Member
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Post by dora on Sept 28, 2015 1:36:30 GMT
Pretty much what everyone else said, an emergency fund allows you to cover emergency situations without going into debt or touching your savings fund which needs to be left alone in order to build wealth.
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