It can be dangerous living too close to the financial edge: Water heaters break, car radiators leak, jobs can be lost in an instant -- so what should you do?
Financial experts urge people to save a certain amount of money in their bank account for emergency purposes.
Watch the video above to learn more.
Read more from:
LetsMakeAPlan.org: 3 practical strategies to help establish an emergency fund
ConsumerFinance.gov: An essential guide to building an emergency fund
More: Money Monday section