Emergency Funds Are Heroes in Face of Disaster

The massive Midwest flooding is an unfortunate situation for many homeowners, especially considering many of them dropped their flood insurance after being told the levees were safe. It's nearly impossible to anticipate such a disaster and when it happens many people are left unprepared.

Having a sizable emergency fund is always wise. Not only does it save you from credit card debt, it gives you money to spend in the face of a calamity. Though three to six months of living expenses is recommended, having a much larger fund can help you recover from larger emergencies.

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