All About Emergency Funds Cary NC

An emergency fund saves headache in Cary. Costly home repairs can set you back several hundred dollars. An emergency fund will keep you from having to choose between having your car back and having your lights on. And when a loved one is ill, you can concentrate on them and not think about how you will pay the bills.

Jeff Seymour
Triangle Wealth Management LLC
(919) 654-7321
1000 Centre Gren Way
Cary, NC
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, BSEE, CFP®

Chad Smith
Financial Symmetry, Inc.
(919) 851-8200 ext 202
1511 Sunday Dr. Suite 120
Raleigh, NC
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Cash Flow/Budgets/Credit Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Chip Hymiller
Beacon Financial Strategies
(919) 321-8625
8376 Six Forks Road, Suite 202
Raleigh, NC
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Financial Issues Between Generations, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Holly Nicholson
Financial Planning Services, Inc.
(919) 676-2806
700 Exposition Place, #131
Raleigh, NC
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Women's Financial Planning Issues, Divorce Planning, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®, JD

Craig Schmith
Craig Schmith
(919) 272-5054
2530 Meridian Parkway, Suite 300
Durham, NC
Expertises
Hourly Financial Planning Services, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Investment Advice without Ongoing Management
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Allison Berger
Financial Symmetry, Inc.
(919) 851-8200 ext 202
1511 Sunday Dr. Suite 120
Raleigh, NC
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules, College/Education Planning, Middle Income Client Needs, Newlyweds & Novice Investors
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Michael Palmer
Trust Company of the South
(919) 781-8287
3600 Glenwood Ave. Suite 210
Raleigh, NC
Expertises
Estate & Generational Planning Issues, Financial Issues Between Generations, Retirement Planning & Distribution Rules, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®

Erin Campbell
Beacon Financial Strategies
(919) 321-8625
8376 Six Forks Road, Suite 202
Raleigh, NC
Expertises
Tax Planning, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Jennifer Lazarus
Lazarus Financial Planning
(919) 321-0606
5614 Welkin Court
Durham, NC
Expertises
Socially Responsible Investments, Women's Financial Planning Issues, Planning Issues for Unmarried & Same-Sex Couples, Cash Flow/Budgets/Credit Issues, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®

Bedda D'Angelo
Fiduciary Solutions
(919) 806-4942
2530 Meridan Parkway, Suite 300
Durham, NC
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives, Planning Issues for Business Owners, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

All About Emergency Funds

These days life is full of surprises. One day we are making ends meet with something left over and then a day comes when all of that can change. One day we are gainfully employed, the next we are given a pink slip. With the unpredictability of day to day living, having an emergency fund saves worry over finances when you are already worried over other things.

What is an emergency fund? Well, it is money that you have set aside for unforeseen situations. It could be an illness in the family, loss of a job, an accident, home repairs, or a natural disaster. Whatever it is, such challenges can deplete a bank account and lead us into financial disaster.

The thing about life is that unforeseen circumstances can happen to anyone and everyone. No one is exempt from them. The best we can do is to prepare in advance so that we are not focused on money. Historically an emergency fund is roughly equal to several months’ worth of income – however these days you should increase your emergency funds to 12 months of total monthly expenses.

That is a lot of money. When you add up all the household expenses you have we could be talking about $40,000. It is hard for most people to save a little, let alone that much money.

Don’t let this stun you into doing nothing. Starting anywhere is better than not starting at all. If you can manage to save $200 dollars a paycheck, then do it. Sure, it will take a while to build up an appreciable fund, but you will still have money put aside in the event that something happens.

One way to build your emergency fund when money is low is to use bonuses, raises, and tax refunds. Instead of buying extra goodies with that raise, take the extra money from the check and add it to what you are already putting away. A tax refund will build up that emergency fund quickly.

An emergency fund saves headache. Costly home repairs can set you back several hundred dollars. An emergency fund will keep you from having to choose between having your car back and having your lights on. And when a loved one is ill, you can concentrate on them and not think about how you will pay the bills.

Start an emergency fund today. Whatever you can contribute is good. Encourage the entire family to help out. While you are building a cushion for possible emergencies, you are also teaching them to save money.

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