Be Prepared, Because Life Happens. An emergency fund is an essential part of your personal ﬁnances. Its importance is stressed in almost every personal ﬁnance book and budgeting blog, and yet 26% of Americans currently do not have an emergency fund in place. Of those who do have an emergency fund, up to two-thirds do not have the often-recommended six months’ worth of expenses saved up.
If an emergency fund is, in fact, so important, why doesn’t it seem that way? Why is it so easy to procrastinate on emergency-fund saving?