Your first line of defense is a simple pool of cash set aside for sudden costs. In personal finance, having a clear savings plan lets you handle unexpected expenses like medical bills, car repairs, or job loss without high-interest credit. Research shows that $2,000 on hand can feel as powerful as a much larger portfolio …
A 2024 Bankrate survey found only 44% of Americans could cover a $1,000 emergency from savings, and 63% say rising inflation makes them save less. That gap leaves many people vulnerable to medical bills, job loss, or sudden repairs. An emergency fund is money you set aside for those surprises. Keep it separate from daily …