When life is comfortable and things are going well, it’s hard to think about experiencing harder times. But failing to plan for stormier days can have a devastating impact on your financial health. Life is full of surprises, and some of them can be expensive. Whether it’s a medical emergency, job loss, car repairs or any other unforeseen event,
“Grandma? Is that you?”
“What’s the matter, honey?”
“Grandma, you gotta help me! They’re going to arrest me if I don’t pay the fine — and I lost my wallet! I don’t have a penny on me or any ID. Can you wire me some money?”
Does this sound like a phone call that can really tug at your heartstrings? It’s actually more
Q: Do I need to have a separate rainy day fund and emergency fund?
A: In an effort to simplify their money, people sometimes consolidate accounts. This is OK in many instances, but it’s important to remember that rainy day funds and emergency funds
