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.