An emergency fund is a source of ready cash in case of an unplanned expense, an illness, or the loss of a job. Now there's new help to build one.
 | | Term of the Day | Words to Know | | |  | | Emergency Fund | | An emergency fund is a readily available source of assets to help people navigate financial dilemmas, such as the loss of a job, a debilitating illness, a major repair to home or car—not to mention the kind of major national crisis the coronavirus pandemic has created. The purpose of the fund is to improve financial security by creating a safety net of cash or other highly liquid assets that can be used to meet emergency expenses. It also reduces the need to either draw from high-interest debt options—such as credit cards or unsecured loans—or undermine your future security by tapping retirement funds. | | Read More » | | Related to "Emergency Fund" | | | | SPONSORED BY INVESCO | | The Complete Guide to ETFs | | ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. | | Learn More » | | | Liquid Asset | | A liquid asset is an asset that can easily be converted into cash within a short amount of time. | | Read More » | | | Money Market | | The money market is the trade in short-term debt. These investments are characterized by a high degree of safety and relatively low rates of return. | | Read More » | | | Pay Yourself First | | "Pay yourself first" means to automatically route a specified savings contribution from each paycheck at the time it is received. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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