Build Your Emergency Fund.

When the furnace goes out or the refrigerator quits working, where does the money come from if you don’t have emergency savings? Lori Gross, financial and investment advisor at Outlook Financial Center says credit cards bear the brunt and cause you to incur extra costs and fees, like sky-high interest rates. By building an emergency fund, you can protect your credit as well as reap the benefits of earning interest on an online savings account—all the while enjoying the peace of mind of knowing you have money in the bank to cover life’s surprises.