Financial Strategy
Published in

Financial Strategy

28% of Americans Have No Emergency Savings — How to Get Your Rainy Day Fund in Place

Lots of open colorful umbrellas overhead.
Photo by Ricardo Resende on Unsplash

What is a rainy day fund?

How do I get there?

How much money do I need to save?

School 1: Pay Off Debt Before Completing Your Rainy Day Fund

School 2: Complete Your Rainy Day Fund Before Paying Off Debt

Where should I store my rainy day funds?

Checking Accounts

High-Yield Savings Accounts

Certificates of Deposit (CD)

Money Market Accounts

Money Market Funds

Does this mean I shouldn’t save for retirement while building a rainy day fund?

What if I need to use my rainy day fund?

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Life's Unsexy Toolkit

Broker by day. Blogger by night. Helping eager minds learn about personal finance and master the unsexy tools of life.