Attention: Money 101 will no longer be available after May 31, 2021. After that time the Enrich financial literacy tool will be available at moving forward.

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Saving & Investing - Head Matters


1. Why Save and Invest

a. Emergency Fund – Three to six months of expenses

Building an emergency fund is like having personal insurance.  This personal insurance is there for emergencies if you need it, or it can grow as it earns interest. 

There should be a clear distinction between your other savings and an emergency fund.  Your other savings can be used for a special purchase but an emergency fund needs to be strictly maintained for emergencies.  Once your emergency fund is used, it should be “paid back” as soon as possible.  Remember, a spur of the moment trip to Mexico or a great pair of shoes on sale does not constitute an emergency! 

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