Establishing an Emergency Fund
“When you live on the financial edge, you may be only one unexpected expense away from a financial disaster.”
Things are going to happen. You get a flat tire, you have a sick relative in another state that requires you buy an airline ticket to be there, etc. Step 5 has you setting aside money for the unexpected so you don’t create a money emergency in addition to the emergency situation you are dealing with.
Step 5 – Establishing an Emergency Fund
The DCC Financial Wellness Ministry is designed to provide education with regard to the subject matter covered. It is provided with the understanding that any staff, volunteer staff, guest speaker, or record materials, are not engaged in rendering legal, accounting, investing, or other professional advice. If legal advice or other expert professional assistance is required, the services of a competent professional person should be sought.