Is it wise to save and build a rainy day fund before an emergency fund?

STEVEN F

They are ONE AND THE SAME.

RICK

Different name same thing

curtisports2

They are the same thing.

Richard

Those are two names for the same thing.

Oh Boy!

They're the same thing..

Judy

a rainy day fund IS an emergency fund or at least the start of one.

SCATTY c

Can you please explain what YOU see as the difference between to two is ? Most, if not all others, see them as one and same thing. But yes, its a good idea to have a 'rainy day / emergency fund'

Maxi

It is wise to save.......... and any money saved is to protect you from unknown/unplanned expenses..........so the two are basically the same thing

real estate guy: The difference between them are

The difference between them are: The purpose of a rainy day fund is to protect you against unforeseen one-time events, and give you the cash to deal with them without upsetting your monthly budget. ... By contrast, an emergency fund needs to have enough money to pay your living expenses over a period of three to six months. Honestly, I really don't see a difference. The key is to save. And then when something comes up, you have the funds.

Pearl L

i think so