Phil's Financial Tip of the Day:
How Much Do I Need For Emergencies?
Dave Ramsey always recommends 3-6 months to have in an emergency fund in the event of a loss of job, medical emergency, short-term disability, etc.while Suze Orman preaches to have 8 months stashed away for a rainy day.
Use this calculator from Fox Business to help determine how much you need to set aside monthly or as a lump sum to create an emergency fund:
http://www.foxbusiness.com/personal-finance/tools/how-much-do-i-need-for-emergencies.html
Quote of the Day from Dave Ramsey.com:
Indecision is often worse than the wrong action. — George Burnham
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com and at 8PM on WOR 710
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