An emergency fund is a financial safety net in case of future setbacks and/or unexpected expenses.
Reserve funds should generally provide for three to six months of spending, although the 2020 economic crisis and lockdown have led some experts to suggest up to one year.
Individuals should keep their reserve funds in accounts that are easily accessible and easy to liquidate.
Contributors can use tax refunds and other windfalls to accumulate their funds.
Some employers have developed emergency saving programs.
Automatic bill payment occurs when money is automatically transferred on a scheduled date to pay recurring bills such as a mortgage, credit card, or utility bill.
Green Monday is the second Monday in December and one of the busiest retail sales days in the US.
eBay claims to have coined the phrase in 2007 after realizing that its highest selling day was the second Monday of that year.
The Life Cycle Hypothesis (LCH) is an economic theory developed in the early 1950s that states that people plan their spending throughout their lives, taking into account future income.