Rainy Day Funds critical for financial success

By Jessica Groskopf, UNL ag economist

The first week of November, the Center for Ag Profitability at the University of Nebraska – Lincoln and Nebraska Extension celebrated “Ag Smart Money Week.” Throughout the week, we held several webinars and workshops. In preparation for the week, I was reminded how often Americans don’t have a rainy-day fund. According to the Federal Reserve, one-third of Americans cannot cover a $400 emergency with cash, savings, or a credit card paid off in full the following month. Could you?

Rainy-day funds, commonly called “emergency funds” by financial experts, are c...