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Where to Keep Your Emergency Funds (Hint: Not Under Your Mattress)

UmbrellaEmergency funds are insurance, not an investment. Rick makes this distinction in a recent Bankrate article by Greg Daugherty titled, “Do you really need an emergency fund?”

The article focuses on places to keep emergency funds and suggests several alternatives in addition to conventional bank or credit union savings accounts. Daugherty suggests thinking of these funds as having two tiers, “your emergency fund plus your backup emergency resources.”

You can read the article here.

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