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I keep a reserve, it gives me a great deal of comfort. The average emergency plane ticket or transmission repair is $2000, very few Americans can come up with 2K in any form but their credit card, this includes people making up to 200k a year, wish I could find the study I read about it.
thenewgreen · 5094 days ago · link ·
Great advice. My grandparents have done something similar for their grandchildren. We have always kept an "emergency fund" that we have only once used. We quickly re-established it. The urge to use the money as an "investment" is a strong one but the advice given is sage. It is more valuable to have the peace of mind that comes with quickly accessed cash.