STEP FOUR on the STEWARDSHIP WELL DONE JOURNEY is EMERGENCY FUND.

Build and maintain 3-6 months of living expenses for an emergency fund.


Life is unpredictable. It is critical to plan for the unexpected. An Emergency Fund can give you some peace of mind when an issue pops up.

 

You should focus on building an emergency fund even before you pay off consumer debt. Start with a goal of $1000. Then work to eventually save 3-6 months of expenses. 

 

Keep your emergency fund somewhere accessible, like your local bank or in a money market account. Ideally, it would be earning more than the typical savings account. But make sure you only use it for emergencies!

 

Having a budget in place is key to establishing and maintaining your emergency fund. You should include a line in your budget to refill the Emergency Fund. If your budget does not allow for saving, you’ll need to decrease expenses or seek out new sources of income.

 

We cannot predict when unexpected things will happen, but we know they will! A little discipline and planning ahead can turn a big problem into a minor inconvenience.

 

RESOURCES

Step 4: Small Group Guide

A Personal or Small Group Guide for emergency fund.

Emergency Fund Article

Download and read this article written by FMF Financial Services staff.

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CONTACT US TODAY TO BEGIN THE CONVERSATION

We believe that with effective counsel and financial management, each person can multiply the impact of the resources entrusted to their care. 

Hours

Monday: 8:00am – 5:00pm
Tuesday: 8:00am – 5:00pm
Wednesday: 8:00am – 5:00pm
Thursday: 8:00am – 5:00pm
Friday: 8:00am – 4:00pm
Saturday: Closed
Sunday: Closed

FMF Financial Services

8050 Spring Arbor Rd
PO Box 580
Spring Arbor, MI 49283
(517) 750-2727: phone
(517) 750-2752: fax

CONTACT US TODAY TO BEGIN THE CONVERSATION

We believe that with effective counsel and financial management, each person can multiply the impact of the resources entrusted to their care. 

Hours

Monday: 8:00am – 5:00pm
Tuesday: 8:00am – 5:00pm
Wednesday: 8:00am – 5:00pm
Thursday: 8:00am – 5:00pm
Friday: 8:00am – 4:00pm
Saturday: Closed
Sunday: Closed

FMF Financial Services

8050 Spring Arbor Rd
PO Box 580
Spring Arbor, MI 49283
(517) 750-2727: phone
(517) 750-2752: fax