Why Are Emergency Funds Important

Whether or not you call it an emergency or rainy day fund it is all the same.

3 What is emergency money? Why would someone need emergency money? Emergency money is having cash on hand when you need it by saving 5 or 10 dollars a week. Use the money for unexpected repairs or if you have to buy something that you really need. The money can earn interest while you’re saving it.

Having an emergency plan in place, helps people to deal with things in an emergency. It lays out what should be done and how things should be handled. The idea behind an emergency plan is to meet specific needs. In the event of a fire or gas leak, it lays out exactly what needs to be done to handle the situation. It provides strategies and ways to handle. For example, in the event of a fire, it would outline what procedure to follow. This can include how to raise the alarm, how to handle the

The emergency legislation that was passed within days of President Franklin Roosevelt taking office in March 1933 was just the start of the process to restore confidence in the banking system. Congress saw the need for substantial reform of the banking system, which eventually came in the Banking Act of 1933, or the Glass-Steagall Act. The bill was designed “to provide for the safer and more effective use of the assets of banks, to regulate interbank control, to prevent the undue diversion of funds into speculative operations, and for other purposes.” The measure was sponsored by Sen. Carter Glass (D-VA) and Rep. Henry Steagall (D-AL). Glass, a former Treasury secretary, was the primary force behind the act. Steagall, then chairman of the House Banking and Currency Committee, agreed to support the act with Glass after an amendment was added to permit bank deposit insurance.1 On June 16, 1933, President Roosevelt signed the bill into law. Glass originally introduced his banking reform bill in January 1932. It received extensive critiques and comments from bankers, economists, and the Federal Reserve Board. It passed the Senate in February 1932, but the House adjourned before coming to a decision. It was one of the most widely discussed and debated legislative initiatives in 1932.

Risk of financial ruin is an important factor of having insurance. You Might face some health problems in later months like a sudden accident, cancer, diabetes, kidney stones or a car accident, this will leave with staggering medical bills. And not paying

Build an emergency fund. It can make all the difference. Low-income families with at least $500 in an emergency fund are better off financially than moderate-income families with less saved up. Learn more about emergency funds here.

According to http://www.ready.gov/business/implementation/emergency explains the steps that need to be taken and the importance of an emergency plan. “When an emergency occurs, the first priority is always life safety. The second priority is the stabilization of

An emergency is defined as “a serious, unexpected, and often dangerous situation requiring immediate action.” (Oxford University).

A visit to the emergency department (ED) is usually associated with negative thoughts by most people. It creates preconceived images of overcrowded waiting rooms and routine long waits for treatment (Jarousse, 2011). From 1996 to 2006, ED visits increased annually from 90.3 million to 119.2 million (32% increase). During this same time period, the number of EDs has declined by 186 facilities creating the age old lower supply and greater demand concept (Crane & Noon, 2011). There are many contributing factors that have led to an increase in ED visits. A few of these key drivers include lack of primary care access, rising of the uninsured population, dwindling mental health services, and the growing elderly

It was thought that if we insured more people, then the number of emergency room visists would decrease. Emergency room visits cost more than a regular primary doctor visit. When a person does not have insurance, sometimes the emergency room is the only option when they are feeling helpless. Although some studies show that, when a person becomes insured, they are not entirely sure how the system works. So, they return to the hospital for an emergency room visit in order to treat their illness.

Something else that can come in handy is you can get gas for your car incase you have to evacuate during the hurricane. If your house starts to flood a lot try to get somewhere high.Like try getting to your roof or if you have

Patients who are uninsured tend to incur more medical debt. This debt is mainly due to frequent admissions to the Emergency Department. Although the cost of admission is quite expensive, uninsured individuals always admit themselves to the emergency room. This is because Emergency Departments cannot refuse service regardless of health insurance status. Once service has been provided, uninsured individuals are left with high cost claims to pay; which eventually turns into a debt.

There are are multiple consequences of visiting the emergency department for non-urgent needs. Moskop (2010) identified overcrowding, expensive care, and suggested lower quality of care. The consequences seemed to be universally consistent with varying descriptions. For example, Boyle (2015) identifying long wait times as a consequence but this is an effect of

(o) “Emergency Intervention Plan” means a written plan which addresses the implementation of emergency interventions and the prevention of injury.

According to Keister and McAndrews (2009), there is a very simple explanation for the huge amounts of money being held as excess reserves by banks. In their article, "Why Are Banks Holding So Many Excess Reserves?" Keister and McAndrews explore the nature of reserves in a normal economic situation comparing it with the crisis situation "following the collapse of Lehman Brothers" in 2008 (Keister and McAndrews, 2009). Though some would argue that the amount of excess reserves currently being held would indicate a failure on the part of the policies implemented by the Federal Reserve, Keister and McAndrews argue that it is merely a reflection of the scale of the policies implemented as well as a result of the Federal Reserve now paying interest on reserves (Keister and McAndrews, 2009). Further, Keister and McAndrews (2009), assert that by now paying interest on the reserves, the Central Bank can now control the target interest rate without manipulating reserves. Additionally, Keister and McAndrews (2009,) conclude that the, 'size of the reserves only reflects the size of the Federal Reserve's policy initiatives and indicate almost nothing about the effectiveness of these initiatives.'