What Is The Difference Between An Emergency Fund And A Savings Account
So what is an emergency and when should you dip into your emergency fund? Well, most will agree that an emergency is something that is unexpected, say a trip to the emergency room due to something like an appendicitis. That is an emergency, and even though no one wants an emergency to happy, the time to plan for one is when life is going well.
Why Not A Low Interest Mortgage
Some say they have the full amount of their mortgage in savings and they are just using the bank for cheap money. Well, is it really cheap? Let’s take a look at a $70,000 mortgage at 3.92% fixed interest rate for 30 years.