Need to Build an Emergency Fund? Seven Steps to Get There

Having a safety net can mean peace of mind on top of being able to maintain your lifestyle if a financial emergency strikes.

A couple on their couch with a laptop look over bills while he scratches his head.
(Image credit: Getty Images)

In the realm of personal finance, one fundamental principle stands out as the cornerstone of financial stability: the emergency fund. An emergency fund serves as a safety net, providing peace of mind and protection against unforeseen financial challenges. Whether it's a sudden job loss, a medical emergency or unexpected home repairs, having a robust emergency fund can make all the difference in navigating life's uncertainties with confidence.

Why an emergency fund matters

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Justin Stivers, Esq.
CEO, Stivers Law

Justin Stivers is the founder and CEO of Stivers Law, a distinguished Miami-based law firm specializing in wealth and estate planning. With almost a decade of expertise, Justin is dedicated to ensuring that clients' estate plans seamlessly align with their financial aspirations through comprehensive wealth planning. Beyond estate planning, Stivers Law excels in probate and trust administration, elder law, Medicaid planning and special needs planning.