Most people will carry some medical debt with them at points in their lives. Everybody makes doctor's visits. If they have kids, they make various visits a year. Plus, life hands people unexpected health situations. Maybe someone gets really sick. Or maybe someone is injured in an accident. Simply put, life happens, and medical bills can commonly be the result.
Sadly, the reality of retirement in the U.S. is changing. Economic woes have impacted the nation on a grand scale. People are working into their older age and having to part with the idea that they once had about their so-called golden years. Because more and more, according to the Better Business Bureau, the golden years are tarnished by the existence of debt.
As time passes, U.S. homeowners are becoming hopeful that the worst has passed in regards to the economic recession. More specifically, fingers are crossed that fewer people are losing their homes to the foreclosure process. For the most part, that hope is coming true.
If you are lucky, you have never had to tap into an emergency money fund. If you are smart, however, you have an emergency fund.