In Defense of an Emergency Fund

I read an article recently on Investopedia that came to the conclusion that emergency funds are a bad idea. This is troubling to me because the one guarantee in life is that nothing is guaranteed. You could loose your job, your house could be damaged from a storm or you might have an unexpected hospitalization. This list could go on and on and on but life is full of the unexpected. Insurance isn’t a perfect safety net nor is it an excuse to forgo emergency savings. Nor is the idea that if I really need the money I could always borrow it. Debt as an emergency fund is the perfect recipe for a disaster. So what is the argument against having an emergency fund? Continue reading “In Defense of an Emergency Fund”