From The Financially Savvy…
“You have heard it before, but I will repeat it again: an emergency fund is critical to any reasonable financial plan.
Without the ability to cover unexpected costs – a medical bill, car repair, or ruptured water heater – you run the risk of racking up unnecessary, high-interest debt that is brutally unforgiving.
The purpose of an emergency fund is easy enough to understand. What people get hung up on is where to actually put the money. Instead of wading through the throngs of the interwebs to solve this problem, I have broken down the four best options for storing your emergency fund.”