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Rename Your ‘Emergency Fund’ if That Suits Your Saving Style

A young adult is sitting at a desk with a laptop open, displaying a financial planning app on the screen. The desk has sticky notes and a notebook with labels like 'Rainy Day Fund,' 'Safety Net,' and 'Future Savings.' The background includes a neat home office with a plant, shelves, and a motivational poster. The person is smiling, looking satisfied with their financial planning.

Whatever you choose to call your short-term savings account might help you use it more effectively. Here’s how experts suggest you approach it.

Read this article,  published by NerdWallet, featuring Penny Forward’s CEO Chris Peterson thoughts on emergency funds, “The term “emergency savings” can make people overly hesitant to use the money for anything other than a catastrophe, Peterson says. It can be more helpful to think of the money as part of a “revolving door” where you can borrow from yourself instead of from a bank.”

Read the full article: https://www.nerdwallet.com/article/finance/rename-your-emergency-fund-if-that-suits-your-saving-style

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