•December 18, 2024•

by Cheri Burcham  

A financial emergency is any expense or loss of income you do not plan for, like a missed paycheck, a damaged roof, a flat tire, or a medical bill. According to FEMA, 6 out of 10 households in America experience at least one financial emergency in a year and about one-third of American families do not have any savings. Financial emergencies can result from health or medical care issues, household expenses, or natural disasters. Illinois Extension Educator Jamie Mahlandt has written this excellent article about financial emergencies that I would like to share since it is such an important topic that we don’t always think about. According to Jamie: 

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