We can't stress enough the importance of having emergency funds set aside for use during unforeseen circumstances.

Not long ago, I wrote an article on emergency funds about how to get started, how much you need to save and where to stash that rainy day fund for safe keeping. 

Why am I still harping on this?

Because I was appalled yesterday afternoon when I read some alarming statistics from the National Foundation for Credit Counseling, the NFCC, an organization that we have recommended many times over the years.

Listen to this:

A majority of Americans (64%!) don't have enough cash in savings to handle even a $1,000 emergency expense!

Many Americans polled for the above survey said that they would have to go to other extremes such as borrowing money from friends and family or taking out a cash advance on a credit card (NO...don't do it!) to cover an unexpected expense.

Others polled said that they would also sell or pawn assets or neglect other financial obligations to meet an emergency expense.

Bottom line?

Saving money these days is HARD... really hard. Period. 

One way to get started is to consider paying your emergency fund FIRST every month.

Again...check out my piece on starting an emergency fund. 

We don't want any of our dolans.com family members to become a survey statistic!

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