Savings are as important as income: Low-income families with savings of $2,000 to $4,999 are more financially resilient than middle-income families without savings. (Photo: Shutterstock)

Everyone should have an emergency fund. Generating an income is necessary to meet your day-to-day expenses, but having an emergency fund is an asset — and it's critically important. It's a form of wealth—something that can help you navigate a financial setback, like an unexpected bill or the loss of a job.

Unfortunately, many people don't have one.

Recommended For You

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.