What Do You Do In A Financial Emergency? Pause Before Any Big Decisions. Financial emergencies can be stressful. … Evaluate Expenses. … Contact Your Credit Card Company. … Take a Look at How Insurance Could Help. … Explore Extra Income Streams and Other Relief. … Talk to a Capital One Money & Life Mentor. What
Why Should You Save Money For Emergencies? An emergency fund allows you to live for a few months if you lose your job or if something unexpected comes up that costs a fair chunk of money to cover. Many banks and financial experts suggest that you should save anywhere from three to six months’ worth
Why Is It Important To Have Emergency Savings? An emergency fund insures against life’s unexpected expenses. Having a robust emergency fund gives you peace of mind. No one wants to live one paycheck away from not being able to pay the rent or one car breakdown away from not being able to get to work.