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Investing Specialists

4 Steps to Setting Up an Emergency Fund

Christine Benz’s guide to creating a financial safety net.

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This article is part of our “Get It Done” week on Morningstar.com: All week we will feature articles and videos offering guidance on ways to help tackle those nagging items on your financial to-do list. 

A few years ago, I met a lovely couple in their early 50s who were struggling with more than $20,000 in credit card debt. When I visited them at their home in a Chicago suburb, it was obvious that they weren’t profligate spenders; their home was modest, and they said that they hadn’t taken a real vacation in years.

Christine Benz does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.