{"id":16165,"date":"2016-01-07T13:04:01","date_gmt":"2016-01-07T18:04:01","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16165"},"modified":"2016-01-07T13:04:01","modified_gmt":"2016-01-07T18:04:01","slug":"without-an-emergency-fund-you-are-one-missed-paycheck-from-disaster","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16165","title":{"rendered":"Without an Emergency Fund You Are One Missed Paycheck From Disaster"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/www.theorganicprepper.ca\/without-an-emergency-fund-you-are-one-missed-paycheck-from-disaster-01062016\">Without an Emergency Fund You Are One Missed Paycheck From Disaster<\/a><\/h3>\n<p><img decoding=\"async\" class=\"fwI\" src=\"http:\/\/www.theorganicprepper.ca\/wp-content\/uploads\/2016\/01\/Without-an-Emergency-Fund-You-Are-One-Missed-Paycheck-From-Disaster.jpg\" alt=\"\" \/><\/p>\n<div class=\"addtoany_share_save_container addtoany_content_top\"><\/div>\n<p>What would it mean to you if you had an unexpected trip to the emergency room? If your car required an expensive repair? What if your income was interrupted for a week, or two weeks, or even longer? Do you have an emergency fund\u00a0<a href=\"http:\/\/amzn.to\/1JuANYh\" target=\"_blank\">built into your budget<\/a>\u00a0to see you through these everyday calamities, or are you only one missed paycheck from disaster?<\/p>\n<p>According to a recent\u00a0<a href=\"http:\/\/www.bankrate.com\/finance\/consumer-index\/money-pulse-1215.aspx\" target=\"_blank\">survey released by Bankrate<\/a>, 63% of Americans do not have the emergency savings to take care of a crisis\u00a0that costs $1000 or more. How do people handle unexpected expenses? According to the survey:<\/p>\n<ul>\n<li>40% would use savings<\/li>\n<li>23% would reduce other spending to cover the expense<\/li>\n<li>15% would use credit cards<\/li>\n<li>15% would borrow from friends or family<\/li>\n<\/ul>\n<p>Many said they had no idea how they would cover an unexpected expense of this magnitude.<\/p>\n<p>So what about you? Do you have an emergency fund? It\u2019s really just one more prep that you should put aside for a rainy day.<\/p>\n<p><strong>An emergency fund\u00a0is a vital prep<\/strong><\/p>\n<p>When your finances are tight, sometimes your first impulse is to spend every dime. \u00a0Many people focus on things like paying off debts, stocking up on food and supplies, or paying more than the minimum payments on bills.<\/p>\n<p>However, that may not be your best bet. \u00a0Don\u2019t get me wrong \u2013\u00a0<a href=\"http:\/\/www.backdoorsurvival.com\/no-nonsense-guide-to-getting-out-of-debt\/\" target=\"_blank\">paying off debt is absolutely vital<\/a>, \u00a0but most experts recommend establishing an emergency fund as the first step back to financial security. There are several reasons why this should be a priority for you:<\/p>\n<ul>\n<li>What if you suddenly lost your job and it was 6-8 weeks before unemployment payments began to trickle in?<\/li>\n<li>What if your child suffered a medical emergency and you needed to purchase an expensive medication?<\/li>\n<\/ul>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Without an Emergency Fund You Are One Missed Paycheck From Disaster What would it mean to you if you had an unexpected trip to the emergency room? If your car required an expensive repair? What if your income was interrupted for a week, or two weeks, or even longer? Do you have an emergency fund\u00a0built [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[195,3316,2924,11548,3762,4649],"class_list":["post-16165","post","type-post","status-publish","format-standard","hentry","category-survival-2","tag-debt","tag-disaster","tag-emergency","tag-emergency-funds","tag-emergency-savings","tag-financial-security"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16165"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16165\/revisions"}],"predecessor-version":[{"id":16166,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16165\/revisions\/16166"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}