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Why Every Woman Needs an Emergency Fund

From the Show: HER
Summary: How is an emergency fund different than a savings account?
Air Date: 7/16/15
Duration: 10
Host: Michelle King Robson and Pam Peeke, MD
Guest Bio: Sharon Lechter, CPA
Sharon LechterSharon Lechter has combined her expertise as a CPA and an international bestselling author with her unmatched passion for financial literacy and entrepreneurship to inspire change for individuals and businesses across the globe for over 30 years.

Credited as the genius behind the Rich Dad brand, Sharon is currently partnered with the Napoleon Hill Foundation. As a driving force behind these two mega brands, Sharon has demonstrated her entrepreneurial vision and business expertise while empowering audiences with messages of hope and prosperity.

Sharon is recognized globally as an expert on many topics, including personal finance, entrepreneurship, publishing and leadership, and has spoken to audiences all over the world, including Ghana, Uganda, UK, Japan, China, Brazil, Ireland and across the United States.
  • Book Title: Think and Grow Rich for Women: Using Your Power to Create Success and Significance
Why Every Woman Needs an Emergency Fund
Unfortunately, life doesn't always work out as planned.

You may not see the reasoning behind having a savings account, or an emergency fund, because nothing can ever happen to you... right?

A recent survery from BMO Financial Group shows that women save only half the amount of money that men save.

Other research from the Employee Benefit Research Institute in Washington shows that 44 percent of unmarried women have less than $1,000 saved, compared to 32 percent of unmarried men.

What are some tips to start your emergency fund? And, how does a savings account differ from an emergency fund?

Sharon Lechter, CPA, shares the importance of having an emergency fund and discusses how much you should stash away.
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