By Trent Hamm
In a small independent bank several hours from where we live sits a savings account. That account is in our names. It earns a solid interest rate but does not have an ATM card associated with it. It has about a month’s worth of living expenses in it.
In order to access this account, one of us would have to actually go to the bank and present identification to make a withdrawal.
Why do we have this account at this point? It’s simple. It’s our “hidden” emergency fund for when things go deeply awry.
Why? Here are some reasons we have it.
It’s convenient, but with an obstacle in the way. At any time, one of us could drop in at that bank, pull out the cash, and do with it what we wish. No questions asked. At the same time,... More...
