Experts recommend having 3-6 months of expenses stashed away in an emergency fund. These days, it is wise to have 6-9 months of expenses stashed away, or more if you are an older worker (it takes longer to find a job).
But what happens when your cash runs out?
If you must take drastic steps, here’s what to cash out, according to USA Today.
Along these same lines, TheStreet.com shares five steps to take if you cannot pay your bills.
If you are facing foreclosure, here is how you can buy some time (video).
If you got your lender to reduce your mortgage debt or already foreclosed, here’s how to deal with that on your taxes.