Why you need an emergency fund

Why you need an emergency fund by Rafael A. Vilagut COSTA RICA.

The US government shutdown that has left 800,000 federal employees without salaries as a result of President Donald Trump´s row with Democrats over building a Mexico border wall entered a record 22nd day Saturday.

The Democrats´ refusal to approve $5.7 billion demanded by Trump for the wall project has paralyzed Washington, with the president retaliating by refusing to sign off on budgets for swaths of government departments unrelated to the dispute.

As a result, workers as diverse as FBI agents, air traffic controllers and museum staff, did not receive paychecks Friday.

 Photo: AFP

This U.S. government partial shutdown now is the longest one ever. The partial U.S. government shutdown became the longest in the country's history on Saturday 12 of January, as it entered its 22nd day. Hundreds of thousands of U.S. federal workers protested as they missed their first payday of 2019.

The longest previous shutdown came in 1995. At issue was a long-term budget backed by Republicans, who won control of both the House and the Senate halfway through Mr. Clinton’s first term.

When it comes to your finances, you should always be prepared for the unexpected, and this is why you need an emergency fund. The best thing you can do for yourself is to prepare for emergencies that require access to additional money. Having an emergency fund set aside is the ideal solution.

U.S. government shutdown becomes longest in country's history
https://youtu.be/pgdxVd71S2M

According to NYT, that beats the previous record, under President Bill Clinton in 1995, of 21 days. In total, there have been 21 gaps in government funding since 1976, though the level of shutdown has varied. The current federal shutdown is a partial one, as many agencies were already funded through this fiscal year, which ends in September.

For any help with your financial plan, please contact me.  Rafael A. Vilagut, rafaelvilagut@gmail.com WhatsApp +50683206097 in Costa Rica, Central America.