{"id":6495,"date":"2023-10-10T20:14:21","date_gmt":"2023-10-10T20:14:21","guid":{"rendered":"https:\/\/www.vfcu.net\/?p=6495"},"modified":"2023-10-10T20:14:21","modified_gmt":"2023-10-10T20:14:21","slug":"7-ways-to-make-the-most-of-an-emergency-fund","status":"publish","type":"post","link":"https:\/\/www.vfcu.net\/es\/7-ways-to-make-the-most-of-an-emergency-fund\/","title":{"rendered":"7 Ways to Make the Most of an Emergency Fund"},"content":{"rendered":"<p class=\"p1\">Our credit union in Harlingen is known for something that has lasted eighty-five years\u2013and that is security. While we help VFCU members make the most of their finances, you can do your part by building an emergency fund in a <a href=\"https:\/\/www.vfcu.net\/savings-and-checking\/savings\/\"><span class=\"s1\">savings account.<span class=\"Apple-converted-space\">\u00a0<\/span><\/span><\/a><\/p>\n<p class=\"p1\">Take your time having extra cash or some savings at your disposal, and check out these steps to build up the funds that will surely save you in a pinch!<\/p>\n<h2 class=\"p3\">What&#8217;s an Emergency Fund?<\/h2>\n<p class=\"p1\">An emergency fund is a cash reserve for unplanned expenses or financial emergencies, such as:<\/p>\n<ul class=\"ul1\">\n<li class=\"li1\">Car repairs<\/li>\n<li class=\"li1\">Home repairs<\/li>\n<li class=\"li1\">Medical bills<\/li>\n<li class=\"li1\">Loss of income<\/li>\n<li class=\"li1\">Extra finances for unexpected outcomes<\/li>\n<\/ul>\n<h2 class=\"p3\">Use a Basic Savings or Money Market Account<\/h2>\n<p class=\"p1\">Initially, your emergency funds can be linked to your checking account to gain access to your intentional funds. You want this type of savings account to be safe and secure; any form of stock or market bond should not access it. Learn more about a <a href=\"https:\/\/www.vfcu.net\/savings-and-checking\/savings\/\"><span class=\"s1\">savings account<\/span><\/a> or <a href=\"https:\/\/www.vfcu.net\/interest-rates\/money-market-fund\/\"><span class=\"s1\">money market account.<\/span><\/a><\/p>\n<h2 class=\"p3\">Look For an Account That Pays You Back<\/h2>\n<p class=\"p1\">The appeal of a credit union compared to a Harlingen bank is that credit unions will pay you a certain percentage of your finances after you secure a savings account with them. In a money market account, you should know:<\/p>\n<ul class=\"ul1\">\n<li class=\"li4\">Dividends are paid on balances over $2,500.00.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li class=\"li4\">They are a low-risk way of making extra earnings on your savings.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li class=\"li4\">These accounts are meant to be used as a place to hold money temporarily before investing elsewhere.<\/li>\n<\/ul>\n<h2 class=\"p3\">Save Enough to Cover 3 &#8211; 6 Months of Expenses<\/h2>\n<p class=\"p1\">The amount you may need for your emergency account will vary depending on your situation:<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<ul class=\"ul1\">\n<li class=\"li1\">Spouse with a job<\/li>\n<li class=\"li1\">Wealthy parents<\/li>\n<li class=\"li1\">The number of dependants<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li class=\"li1\">Self-employed acquaintance<\/li>\n<\/ul>\n<h2 class=\"p3\">Start Small<\/h2>\n<p class=\"p1\">It&#8217;s hard to have cash at hand all the time, but when you need cash, you should set up an automatic transfer to keep your funds stable. Therefore, depositing at least $100 (or less) a month, to help you save..<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h2 class=\"p3\">Only Tap The Account for True Emergencies<\/h2>\n<p class=\"p1\">You can rely on your emergency funds to stay stable whenever life hits you with an unexpected turn. Although these types of funds are convenient for these situations, it&#8217;s essential only to use them for emergencies.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h2 class=\"p3\">Replenish the Account If You Draw on the Funds<\/h2>\n<p class=\"p1\">Even if you withdraw from your emergency funds, it&#8217;s strongly recommended to pay yourself back. For example, if you withdraw a certain amount of money, you should always deposit at least a half or more to keep those balances in check for the next time you may need them.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h2 class=\"p3\">Try Out VFCU Savings Accounts!<\/h2>\n<p class=\"p1\">Need finances to build up your emergency funds? VFCU has just what you need to find the right finances to get you back on track financially! With VFCU savings accounts and services, you can look forward to the following:<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<ul class=\"ul1\">\n<li class=\"li1\">Safe and secure accounts<\/li>\n<li class=\"li1\">Earn a modest amount of interest as you save money<\/li>\n<li class=\"li1\">With a minimum of $25, you can start and build up from there!<\/li>\n<\/ul>\n<h2 class=\"p8\">Follow us Online<\/h2>\n<p class=\"p1\">Want to learn more about how to save? We share tips with our VFCU members online! You can also follow us on <a href=\"https:\/\/www.facebook.com\/ValleyFederalCreditUnion\/\" target=\"_blank\" rel=\"noopener\"><span class=\"s1\">Facebook<\/span><\/a> and <a href=\"https:\/\/www.instagram.com\/valleyfederalcreditunion\/\" target=\"_blank\" rel=\"noopener\"><span class=\"s1\">Instagram.<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our credit union in Harlingen is known for something that has lasted eighty-five years\u2013and that is security. While we help VFCU members make the most of their finances, you can do your part by building an emergency fund in a savings account.\u00a0 Take your time having extra cash or some savings at your disposal, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6496,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[84,138,102],"class_list":["post-6495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tips","tag-credit-union-harlingen","tag-emergency-fund","tag-savings-account-harlingen"],"_links":{"self":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/posts\/6495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/comments?post=6495"}],"version-history":[{"count":0,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/posts\/6495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/media\/6496"}],"wp:attachment":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/media?parent=6495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/categories?post=6495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/tags?post=6495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}