MASON CITY, Iowa – From Mother Nature to man-made emergencies, you should always be sure you have money saved to deal with the unknown.
It may be something you don’t want to think about, or you never really considered it, but emergencies can take a toll on emotions and your finances, if you’re not ready.
Financial advisers recommend that you should have money set aside to cover three to six months’ worth of living expenses.
“An emergency fund can be cash, can be money market, or it could be a certificate of deposit, but it needs to be some vehicle that’s very easily accessible,” said Sara Carlsson with Edward Jones.
Carlsson says you should also have all your passwords and accounts numbers written down and stored somewhere safe and secure. That way, a trusted friend or family member can easily gain access to them if you are not able to.