Rainy Days and Mondays…
Rainy Day Funds Can Come in Handy
Jeffrey P. Kendall, CFP®
Like those Monday mornings after a long weekend, no one wants to see a rainy day, otherwise known as an emergency. But also like Mondays, emergencies are inevitable. Life is expensive enough without those rainy days, and a little bad luck or a twist of fate can hit us right in the checkbook and challenge us to live within our budget.
An emergency reserves fund can help with major financial disruptions, which is why I have my clients sock away at least three months, and preferably six months, of living expenses, but for the minor ones, a rainy day fund might just do the trick.