Elizabeth Alexander, president of the Mellon Foundation, said in the announcement that while the emergency funds can’t cover the full extent of cuts, it’s a show of support. “At stake are both the ...

What is an emergency fund? An emergency fund is money saved and put aside to meet unexpected expenses, such as future medical bills or unforeseen home and car repairs, or to cover a period of ...

Do you go take out a personal loan?” Epps asked. “So, emergency funds set up a security blanket for you that you can rely on later on. Every time you borrow money you are taking money away fro ...