All About Emergency Funds Winston Salem NC

An emergency fund saves headache in Winston Salem. 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.

Barry Swaim
Wealth Management Group, Inc.
(336) 760-4829
3401 Healy Drive
Winston-Salem, NC
Expertises
Retirement Plan Investment Advice, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Investment Advice without Ongoing Management, Middle Income Client Needs, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Mrs. Laura E. Banasiewicz, CFP®
(336) 774-2808
P.O. Box 26043
Winston Salem, NC
Firm
Allegacy Investment Group

Data Provided by:
Mr. Robert D. Saunders, CFP®
(336) 721-9209
100 N Main St
Winston Salem, NC
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Estate Planning, General Financial Planning, Insurance Planning, Long-Term Care, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Business Executives

Data Provided by:
Mr. Bryan D. Yates, CFP®
(336) 721-4916
100 N Main St Ste 2500
Winston Salem, NC
Firm
Morgan Stanley Smith Barney

Data Provided by:
Mr. Scott Edward Cawood, CFP®
(336) 777-1677
300 S Main St
Winston Salem, NC
Firm
Arbor Investment Advisors
Areas of Specialization
Investment Management

Data Provided by:
Gregory Yahn
Yahn Financial Planning
(336) 478-2363
7800 Airport Center Drive, Suite 401
Greensboro, NC
Expertises
Middle Income Client Needs, Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Mr. George H. Knostman Iv, CFP®
(336) 884-0410
Sharrard, McGee & Co., P.A.
High Point, NC
Firm
Sharrard McGee & Company

Data Provided by:
Mrs. Amy L Jucoski, CFP®
(336) 747-8931
One West Fourth Street
Winston-Salem, NC
Firm
Wells Fargo

Data Provided by:
Melissa W. Combs, CFP®
(336) 732-3545
100 N Main St
Winston Salem, NC
Firm
Wells Fargo Advisors
Areas of Specialization
Employee and Employer Plan Benefits, General Financial Planning, Investment Management, Planning for Couples, Retirement Planning, Wealth Management, Women's Finances

Data Provided by:
Mr. Jeremy Landon Stanley, CFP®
(336) 714-7400
100 N Cherry St Ste 350
Winston Salem, NC
Firm
LPL Financial Wealth Management
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Data Provided by:

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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