What are good savings options for an 'emergency savings fund'?
I am in the unenviable position, where I live in the US my parents live in South Africa, and many other important family members live in New Zealand. Unenviable because as family members are getting older I am realizing sadly that I may need to have to make emergency trips to either South Africa or New Zealand in the coming months, years or perhaps even weeks. So since it costs so much money for airfare and especially on short notice, I want to save money in some emergency trip account (which probably doesn't even exist) or have some sort of insurance that can get me these travel arrangements on short notice. If anyone has any info or advice, to this regard I would be really happy, Thank you.
Insurance - 2 Answers
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1 :
Well, you can't buy insurance that will buy you airline tickets to go visit people in other countries. No such horse. You're probably best off using a money market account to save your money in. I like Schwab . . .www.schwab.com
2 :
There is no insurance for this. And you do not need any special type of savings account. A regular, normal savings account is fine. So is a checking account.
