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Financial Topics & Tips

Do You Have an Emergency Fund?  It's One of the Foundations of Investing.

A financial plan is a written document that spells out where you are in your financial life, where you want to be, and the investment strategies you will implement to reach your goals. A substantial financial plan should include an emergency fund.

What is an emergency fund?
An emergency fund is money that is set aside to be used in the case of an emergency, such as the loss of a job, an illness, or the death of a spouse.

Why have emergency funds?
An emergency fund increases financial security by constructing a safety net of funds that can be used to meet emergency expenses as well as reduce the need to use high interest debt.

How much should I be saving?
It is suggested that you save enough money to cover 3 to 6 months of expenses in a liquid account.

Planned or inconsistent expenses are not considered emergency funds.
Car insurance, property taxes, vehicle maintenance, and vacations are not emergencies. These are anticipated expenses and need to be funded through monthly saving. This is where a bucket strategy can help you stay financially secure as you work your financial plan.

If you have not yet established an emergency fund or are not sure how much should be in that fund, I welcome the opportunity to discuss this with you.

With personal service,

Bethel Coleman, Financial Advisor
The Tennessee Investment Services
located at The Tennessee Credit Union
phone: (615)780-7803
fax: (608) 218-2355

*Please note: Securities trade instructions should not be accepted via e-mail. If you receive trade instructions via e-mail, they must be verified verbally before executing the transaction.

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Non deposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America