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How to Build the Crucial $1,000 Emergency Fund

April 26th, 2011 at 10:49 pm

We all know that saving money is essential, but statistics tell us that most Americans donít do it on a consistent basis. In fact, just prior to the economic collapse of 2008, personal savings rates were at all-time lows in the United States. Much of this was fueled by the property market bubble, which led people to believe that their homes could never depreciate.

Therefore, the ever-increasing value of their home equity each year, dis-incentivized people from saving money. Why save money every month, when home equity is building so strongly every

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1 Responses to “How to Build the Crucial $1,000 Emergency Fund”

  1. Jerry Says:

    People just tend to make poor financial choices in general, I think, and it leads to long term consequences. There is no way around it. Home ownership is nice, but it is NOT the same thing as savings, and it does NOT offer insurance against depreciation! Great points.

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