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February 10, 2010 / Brett Cohrs

Rainy Day Fund?

Yesterday, I noticed a link on my home page to an article about a further decrease in Georgia state revenues. It brought to mind a conversation with one of my nonprofit clients earlier in the day about how revenue streams are drying up: state grants, local government grants, private grants, etc. She was able to say, “Thank God I have savings.” (something along those lines).

Working with a variety of small nonprofits and for profit social service agencies that rely on state and local government funding, I know that having an emergency fund might not be the norm. For that matter, I am just a human that knows a lot of other humans, and having a rainy day fund as families or individuals is not the norm. Typically, an emergency fund equals a credit card.

When those revenue streams are flowing, what are your savings practices? How have you prepared or are you preparing for a continued tough economy?


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