Government shutdown showed importance of an emergency fund

Emergency Fund Infographic

Daily Finance says that the government was “slowly coming back to life” early Thursday morning; after 16 days, the government shutdown is over for now.

Government employees who were deemed “non-essential” can go back to work. And while a little over two weeks off might seem like a nice vacation, the shutdown has hurt the personal finances of many employees and their families. A recent Washington Post story reports that one employee, Monique Henderson, a single mother of two, struggled to pay bills and buy groceries. “And to think I came to work for the federal government for better ‘stability,’ ” she said.

The shutdown might not have affected your finances directly, but as many government employees recently discovered, you never know when something will. So even though your life may seem safe and secure now and in the future, you should have an emergency fund that covers at least three months of your expenses.

LifeTuner’s infographic has a quick and easy overview of what should be covered in your emergency fund. If you need any more help, feel free to leave a comment below or send us a message.

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