{"id":25804,"date":"2022-06-30T21:06:38","date_gmt":"2022-06-30T21:06:38","guid":{"rendered":"http:\/\/www.ldblifestylebenefits.com\/?p=24063"},"modified":"2023-07-28T22:33:28","modified_gmt":"2023-07-28T22:33:28","slug":"pull-in-case-of-emergency","status":"publish","type":"post","link":"https:\/\/ldblifestylebenefits.com\/index.php\/2022\/06\/30\/pull-in-case-of-emergency\/","title":{"rendered":"Pull In Case of Emergency"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<p class=\"postIntro\">In an ideal world, life would be fairly predictable. We would all have a steady, guaranteed income and no blindsiding emergencies.<\/p>\n<p>Unfortunately, life entails some measure of chaos. The last few years have been more unpredictable than ever, from a global pandemic that has lasted over two years to its ripple effects of unemployment, shifts in demand, and <a href=\"https:\/\/www.cdc.gov\/coronavirus\/2019-ncov\/long-term-effects\/index.html\">long-term illnesses<\/a>.<\/p>\n<p>Even if you\u2019ve been fortunate enough to weather the pandemic with minimal financial disruption, accidents happen, cars break, and job markets change. Experts traditionally have recommended saving three to six months\u2019 worth of income to cushion the impact of these unplanned occurrences.<\/p>\n<p>That is admittedly an ambitious goal, especially if you are already experiencing financial difficulty (you\u2019re not alone \u2013 according to a <a href=\"https:\/\/www.federalreserve.gov\/publications\/files\/2017-report-economic-well-being-us-households-201805.pdf\">2018 Federal Reserve report<\/a>, roughly half of Americans said they\u2019d struggle to afford a $400 emergency). If 3-6 months\u2019 income is too daunting right now, instead aim to first save $500, and then build slowly on it. Adding a savings category to your budget is the best way to start this fund (click <a href=\"http:\/\/www.ldblifestylebenefits.com\/23378-2\/\">HERE<\/a> for tips on efficient budgeting).<\/p>\n<p>Once you have that $500+ in a savings account, consider a <a href=\"https:\/\/www.bankrate.com\/banking\/savings\/money-market-vs-savings-accounts-vs-cds\/\">money market account or CD<\/a> to help grow the nest egg. <a href=\"https:\/\/www.nerdwallet.com\/article\/banking\/emergency-fund-calculator\">THIS<\/a> site provides a calculator to help you determine how much you should try to save based on your current situation, as well as suggested accounts in which to put your savings. Even if you have to build this safety net slowly, every little bit helps.<\/p>\n<p class=\"source\"><a href=\"https:\/\/www.nerdwallet.com\/article\/banking\/emergency-fund-calculator\">Emergency Fund Calculator: How Much Will Protect You? &#8211; NerdWallet<\/a><br \/>\n<a href=\"https:\/\/www.cnbc.com\/select\/how-much-to-save-in-emergency-fund\/\">How Much Money Should You Have Saved in Your Emergency Fund? (cnbc.com)<\/a><\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] In an ideal world, life would be fairly predictable. We would all have a steady, guaranteed income and no blindsiding emergencies. Unfortunately, life entails some measure of chaos. The last few years have been more unpredictable than ever, from a global pandemic that has lasted over two years to its ripple effects of unemployment, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86,20],"tags":[],"class_list":["post-25804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2022-july-en","category-lifestyle-and-wellness"],"_links":{"self":[{"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/posts\/25804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/comments?post=25804"}],"version-history":[{"count":1,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/posts\/25804\/revisions"}],"predecessor-version":[{"id":26914,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/posts\/25804\/revisions\/26914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/media\/26913"}],"wp:attachment":[{"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/media?parent=25804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/categories?post=25804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ldblifestylebenefits.com\/index.php\/wp-json\/wp\/v2\/tags?post=25804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}