Financial Strategy
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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?



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Life's Unsexy Toolkit

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