Nicolás Valdés-Fauli, a Certified Financial Planner in our New York City office, was recently quoted in the following OppLoans article:
Emergency Funds Are Important: Here’s How to Start Building One
Building and maintaining an emergency fund is an important financial cornerstone. If you don’t have one, you should start saving today.
There are keys to avoiding short-term bad credit loans like payday loans and cash advances. One is to maintain your credit score, the other is to build up your savings. And while a good credit score is important, its the savings that will really—well—save you!
Specifically, you should create a well-stocked emergency fund. That way, you can cover unforeseen bills and financial shortfalls instead of relying on bad credit loans and possibly entering a dangerous cycle of debt.
Rest assured: Financial surprises are going to happen, and you want to make sure that you’re prepared. That’s why we reached out to a number of financial experts who can explain how emergency funds work and how you can go about building one today.
What is an emergency fund?
Nicolás Valdés-Fauli is a Certified Financial Planner with Main Street Financial Solutions in New York City. He provided a general overview of how emergency funds work and the many benefits that they offer.