1. Parenting
Jennifer Wolf

Do You Have an Emergency Fund?

By October 29, 2012

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Families in the path of Hurricane Sandy can tell you how quickly a "rainy day" fund disappears in a real emergency. From buying extra food and water to batteries and gasoline, it's easy to blow through several hundred dollars in the preparation for a big event –– let alone the money you might spend on clean-up afterwards.

An emergency kit packed with cash.

And while the pattern associated with this hurricane is unprecedented, weather-related emergencies happen all year long in every state. So even if you're not one of the 50,000,000 Americans in the path of this storm, let it be a reminder to firm up your emergency savings fund.

A word of caution: don't fall into the trap of "all or nothing" thinking. You don't have to wait until you have $100 or more to set aside. Save whatever you can –– $10 or $20 here and there starts to add up quickly.

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Photo Steven Puetzer/Getty Images

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