6 ways to boost your emergency fund in a pandemic economy

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As many of us grapple with the coronavirus pandemic, the importance of an emergency fund has come into sharp focus. But how do you save in a pandemic economy?

a baby sitting on a table: A father and daughter work together.

© Syda Productions/Shutterstock
A father and daughter work together.

While it’s not easy, there are some strategies you can follow to boost your emergency fund – even when you’re in the midst of a global pandemic. Here’s what you need to know.


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Why you need an emergency fund

Your emergency fund is how you protect your finances from the unexpected. Plus, a liquid emergency fund offers you freedom and flexibility.

“Cash liquidity matters in a stressful financial situation,” says Natalie Torres-Haddad, a financial wellness advocate and the host of the podcast Financially Savvy in 20 minutes. “It can take time to liquidate property and investments. When you need the cash, you need it now.”

Even a small amount can

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Here’s Why It Marks A Paradigm Shift In Financial Services

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On Wednesday evening, Detroit-based Rocket Companies (NYSE: RKT), home to Quicken Loans, the nation’s largest retail mortgage lender, priced its 100-million share IPO offering at $18 per share. This would value the company at about $36 billion.

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The stock is expected to make its NYSE debut on Thursday morning. Underwriters include Goldman Sachs, Morgan Stanley and Credit Suisse.


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Last month, Rocket Companies said it had planned to raise as much as $3.8 billion by selling 150 million shares at a target offering price range of between $20 and $22. The highly-anticipated debut comes after the IPO market cooled down since the spring.

The IPO’s proceeds will be used to finance business purchases and stock from Rocket’s existing holding company, Rock Holdings Inc., owned by founder and majority shareholder Dan Gilbert. The company’s CEO will continue to be Jay Farner, who’s been with Quicken for

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Insurance Agents Think They Offer Value. But Some Customers Have a Different View.

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Business owners and consumers are rethinking their finances and insurance needs due to the current economic uncertainty. However, new research suggests insurance customers and their agents are not always on the same page; there are gaps between what agents and their customers think and agents may not be giving customers everything they want.

Thus insurance agents face some challenges when helping customers, according to a report from Nationwide Insurance. At the same time as they face these new obstacles, agents have a “compelling opportunity to serve as a knowledgeable resource for current and prospective customers to strengthen and grow their portfolio or business,” the report says.

Nationwide identifies four themes in its study:

  • A perception gap: There are gaps between agents and customers when it comes to perception of service levels.
  • Customers want more than just property and casualty support from agents.
  • Understanding policy coverage and price are shared challenges
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