This account is not for building wealth, it is more like an insurance against rainy days. The mission statement for the emergency fund is to protect you against storms, give you peace of mind, and keep the next big problem from becoming debt.

Dave Ramsey is America’s trusted voice on money and business. More than 1.5 million families have attended Financial Peace University in more than 30,000 churches nationwide. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 5 million listeners each week on more than 500 radio stations. Follow Ramsey on Twitter and on the web at

Publication date: April 24, 2013