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emergency fund

How employers help workers save for rainy days

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Everyone needs a rainy-day fund — your financial health depends on it. Your employer could help you build one.

Many companies offer 401(k)s and other retirement plans, but until recently few had programs to promote short-term savings. That’s starting to change, as employers experiment with matching funds, payroll deductions and other methods to encourage workers to build emergency funds.

In my latest for the Associated Press, see why employer-sponsored emergency savings accounts are beginning to gain traction.

Thursday’s need-to-know money news

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Today’s top story: Can your employer cure your money woes? Also in the news: 10 lessons from the bull market’s 10-year anniversary, how to get money if you don’t have an emergency fund, and the $1.4 billion in refunds left on the table by taxpayers.

Can Your Employer Cure Your Money Woes?
Targeting debt-related stress through employee benefits.

10 Lessons From the Bull Market’s 10-Year Anniversary
It’s the longest bull market in history.

How to Get Money If You Don’t Have an Emergency Fund
But you really should have an emergency fund.

Taxpayers are leaving $1.4 billion in tax refunds on the table
Refunds owed from 2015.

Wednesday’s need-to-know money news

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Today’s top story: Don’t freak out about an emergency fund – just start one. Also in the news: Deciding on hiring a tax planner or DIY, how one couple paid off $100K in debt in 5 years, and the difference between hard and soft credit inquiries.

Don’t Freak Out About an Emergency Fund — Just Start One
The sooner, the better.

Hire a Tax Preparer or DIY? This Year the Decision May Be Harder
New tax laws may complicate things.

How I Ditched Debt: Side Jobs, Meal Planning and Faith
How one couple paid off $100K in 5 years.

The Difference Between Hard and Soft Credit Inquiries
How they impact your credit score.

Thursday’s need-to-know money news

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Today’s top story: How to build your ‘Oh, Crap!’ fund. Also in the news: A strategy that could help new grads retire sooner, United Airlines sets a new pet transport policy, and what happens to your debts when you die.

How to Build Your ‘Oh, Crap!’ Fund
Don’t get caught empty-handed.

New Grads, This Strategy Could Mean Retiring Sooner
Doesn’t that sound nice?

United Airlines Sets New Pet Transport Policy
The policy will ban dozens of dog breeds from being transported in cargo.

What Happens to Your Debts When You Die
They don’t disappear.

How to build your ‘Oh, crap!’ fund

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The emergency fund is a bust.

Millions of Americans don’t have one, and some of those who do resist tapping what they’ve saved. I’d like to propose an alternative for both sets of people: The “oh, crap!” fund, a savings account for not-quite-emergency expenses.

One of the reasons people don’t have emergency funds is misplaced optimism. People think that if they’re healthy, they’ll stay healthy. If they’re employed, ditto. The car will keep running, the roof will never need to be replaced and, since everybody’s a better-than-average driver, there won’t be any accidents. Behavioral scientists call that “recency bias,” which is the delusion that whatever happened in the recent past will continue into the indefinite future.

Everyone, though, has experienced “oh, crap!” moments: the no-parking sign they didn’t see, the crown the dentist says they need, the smartphone dropped in the toilet. In my latest for the Associated Press, how to build a fund that will take the sting out of emergency expenses.

Friday’s need-to-know money news

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Today’s top story: Quick – Can you come up with $400? Also in the news: Is 4-year college right for you, car negotiating secrets for people who hate haggling, and 5myths about your 2017 tax refund and what not to do if you want to do if you want it quicker.

Quick — Can You Come Up With $400?
Most of America cannot.

Ask Brianna: Is 4-Year College Right for You?
Do you really need all 4 years?

Car Negotiating Secrets for People Who Hate Haggling
Negotiating without pressure.

5 myths about your 2017 tax refund and what not to do if you want it quicker
Calling the IRS won’t help.