Cash is King!

In good times and in challenging times like we're experiencing, cash is king!

How much money do you have in your savings account now? Do you have the three to six months of living expenses that most financial planners recommend you have earmarked as an Emergency Fund?

Having money in cash isn't sexy. You won't earn a tremendous amount of interest. You won't boast to your friends about earning a paltry 1-3% interest....but it serves a purpose. The purpose is to give you a ready, liquid source to dip into in the event of an emergency so you don't have to charge it or tap your home equity or 401k plan.

If you haven't saved at least three to six months worth of living expenses yet, get saving today. Start with what you can, even if it's only $25 or $50 per month. It will build up over time and before you know it, you'll have a tidy pool of cash for protection.