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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 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.