The idea is to have enough money saved to avoid using a credit card or taking out high-interest loans to pay for these financial surprises. Think of a rainy day fund as savings to handle minor ...

Not only are these accounts safe, but they offer interest that could give your savings a boost — meaning you'll be more prepared for the next rainy day. The national average savings account ...

While it can be tempting to treat those dollars as “fun money” or use them on short-term expenses, your future self may thank you for allocating some of them to your rainy-day fund.

See how we rate banking products to write unbiased product reviews. Emergency savings can help cover large, unexpected expenses and protect you in case of job loss. Most experts recommend having ...