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The Power of Prudence: 5 Ways to Build an Emergency Fund

Right now amidst the Coronavirus pandemic there are three groups of people, financially speaking.  The first group, the group you want to be in, are those who have a solid financial position and are not worried about money, despite the uncertain future - even if it leads to being unemployed. 

The second group are the ignorant.  They don't know what they don't know and have no savings, but despite their lack of savings they have no concerns regarding their financial future.  They're partying on the beach without a care in the world, at least for now.

Then there are those in the third group, which is probably the largest of the groups.  These are people who are living paycheck-to-paycheck and were broke even before the pandemic hit.  If you think there are no doctors or other high income professionals in this group think again! 

Just because you have a high income doesn't mean you have money to weather a storm such as this.  The latest Medscape...

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