Putting away money in an emergency fund - KOTA Territory News

Putting away money in an emergency fund

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It may be tempting to spend extra money right away, but financial experts say it's important to put money away in an emergency fund.

Rick Kahler, of Kahler Financial Group, says there is a difference between an emergency fund and saving money for a vacation or a new car.    

"You need to start saving for the emergency fund. Something out of every check until you have that fund built up. For some people they could potentially have that fund saved in a couple of years," said Kahler.  

Kahler says you should put 20 percent of your paycheck into an emergency fund.

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