Rainy day fund is a must!

I think these articles are a great way to launch a blog on success. Given the state of today's US and world economies, you're going to have to have a monetary emergency plan in place to become and stay successful. I've included short portions of each article, but you can find out more by clicking on each link.

What are you doing for an emergency fund?


Rainy-day funds draw interest in stormy economy
By DAVE CARPENTER
The Associated Press

Having a cash stash by any name — emergency fund, contingency fund, rainy-day fund — may be back in vogue after decades of declining savings.
The continuing challenge: How to manage this set-aside money effectively.
Read more: http://www.star-telegram.com/business/story/1149066.html



Set big money aside: You might need it
Richard Burnett Sentinel Staff Writer
January 19, 2009


If the financial meltdown-turned-recession hasn't made you start saving more money for a rainy day, you should have your head -- and your bank account -- examined.An emergency-cash account, which should be enough for three to six months of living expenses, is a keystone of getting your financial house in order. And it is even more urgent now with millions more jobs in jeopardy amid the down economy."People have to save more money. That's the bottom line," said Philip van Doorn, an analyst for TheStreet .com Ratings. "Do you really need fancy cable services, the latest Xbox game, Guitar Hero, dining out four nights a week? Question everything, cut back and put it in savings. If it doesn't hurt, you're not saving enough."
Read more: http://www.orlandosentinel.com/features/consumer/orl-cash1909jan19,0,2845806.story



Experts say it begins with having an emergency fund, eliminating debt
By DUSTY MILLER News Chief correspondent
Published: Sunday, January 11, 2009 at 4:01 a.m. Last Modified: Sunday, January 11, 2009 at 8:33 a.m.

WINTER HAVEN - While many people start the new year resolving to shed some weight and get in shape, others are discovering that in the area of personal finance, a few extra pounds of debt they've added also have to go.
January is national Financial Wellness Month, providing local financial experts like Laura Hawley a targeted opportunity to teach people how to develop good spending, savings and budgeting habits.
Hawley, a certified financial planner and Lakeland-based vice president of the investment firm Allen & Company of Florida Inc., equates financial wellness with financial independence.
"A lot of people are waking up in the New Year and finding out they are in debt," she said. "Their jobs aren't as secure and many haven't put aside an emergency fund. They're only a couple of paychecks away from bankruptcy, which is financial illness."
Read more:http://www.newschief.com/article/20090111/NEWS/901110356/1009/LIVING?Title=Experts_say_it_begins_with_having_an_emergency_fund__eliminating_debt