Planning for the Next Generation

Do You Need An Emergency Fund? Six Reasons You Do.

An emergency fund is like building cardio in your exercise routine. It strengthens your daily financial wellness (like your heart and lungs), increases your long-term financial health (similar to your metabolism) and can lead to a longer, more financially fit life.

Without an emergency fund, you may have to rely on credit cards, a loan or tap into retirement savings. That approach can leave you with overwhelming debt at high interest rates and inadequate retirement accounts—plus plenty of anxiety.

So consider these six reasons from Alerus experts on why to start and build your emergency fund.



The costs of these six situations could end up on your credit card, piling up interest or force you to dip into retirement accounts. Instead, get financially fit by starting and adding to an emergency fund so you don’t need to worry about efficient access to funds.