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Best Sources of Emergency Cash
Kiplinger's Personal Finance
|January 2022
Even if you´re debtaverse, having a credit card to pay for emergencies could be an important lifeline
If you have an emergency fund, congratulations. But when emergencies pile up, should you drain the fund to cover every one of them? It’s a question I asked myself recently after I inherited a car from my mom. While having my own wheels has improved my life, the car has needed repairs that I didn’t plan on.
My emergency fund could have covered the work, but I would have been left without a backup fund to pay my rent if I lost my job. Fortunately, I had a credit card with a very low balance. Plus, it had a sufficiently high credit limit to cover the repairs without hurting my credit score.
Loans you can live with.
This story is from the January 2022 edition of Kiplinger's Personal Finance.
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