In the segment below, courtesy of Fox 59, I answer this question with a surprising answer.
Should you use your emergency savings for a house down payment? No.
Should you use your emergency savings for a vacation? No.
Should you use your emergency savings for a retail sale? No.
Should you use your emergency savings for unnecessary projects (home improvement, hobbies, etc.)? No.
Watch the clip to hear my explanation on why your emergency fund is not meant for any of these things.
Want to know more about emergency funds? Click the titles below for more information and tips.
Knowing when to use your emergency fund
Learning to save money correctly makes all the difference
In a perfect yet realistic world, this is how you would accumulate money
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