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Which is why a liquid emergency fund is the first recommendation for anyone trying to secure their personal finance situation.
by mason55 10y ago
Which is why a liquid emergency fund is the first recommendation for anyone trying to secure their personal finance situation.
- paganel 10y agoI agree with you, but, then again, saving money "under the mattress" or a high saving rate is usually frowned upon in the economic press.
- ihsw 10y agoMany treat credit cards as their liquid emergency fund. Unexpected expense? Dig yourself deeper and push your credit closer to its limit. Personally I think that is the intention of credit cards -- emergency liquidity -- and that nobody should carry credit card debt to the next month.
- ryangittins 10y agoThis is absolutely a valid use for credit cards if you're careful and disciplined, but it can only stretch you for a maximum of one month before you've got to start making payments. What about when you're out of a job for six months? You've gotta have an emergency fund.