By Tim Kowols
Just because emergencies are usually not expected does not mean it should be omitted from your spending plan. An emergency savings account helps you put money aside for things like a major illness or job loss that can cause havoc on your finances. Gay Pustaver from Money Management Counselors says establishing a separate account for such expenses could be very important.
Pustaver suggests double income homes to set aside at least three months of required expenses for emergencies and six months for single earners. You can listen to the final part of our Money Management Monday Series on Savings online with this story.