You wake up shivering and realize that the boiler has quit and you're now without heat ... in the dead of winter!
Emergencies happen daily and they are stressful. Having an emergency fund helps to reduce the stress and ensures you can find the best solution, quickly!
Tips for your Emergency Fund:
1) Keep your EF in a separate account. Don't mingle with other funds.
Hint: an online bank with high yields and not so easy to access.
2) Earmark "windfalls" to fund your EF. Examples: tax refund, bonus, rewards, etc.
3) Be aggressive about funding your EF. Budget a certain amount towards funding your EF every paycheck.
Once it's done, you will have those $$$ back at your disposal and you'll have peace of mind!