COVID-19 shows importance of emergency financial plans
April 5, 2020
STILLWATER, Okla. – The coronavirus pandemic has driven home the importance of financial management and emergency savings accounts, said Cindy Clampet, assistant family resource management specialist with the Oklahoma State University Extension.
It has been a difficult lesson to learn.
“It’s recommended consumers should have at least three to six months’ worth of living expenses in an emergency fund. However, a recent survey by the Federal Reserve found 46 percent of Americans don’t have the funds to pay for an unexpected $400 bill,” Clampet said. “Since most of those who paid...