Shutdown reminder of need for emergency fund Published Oct. 28, 2013 By Betsy Ratashak-Vogel Travis Airman and Family Readiness Center financial counselor TRAVIS AIR FORCE BASE, Calif. -- Planning for financial emergencies is a core tenant of mission readiness. Financial emergencies can occur at any time and typically include car repairs, vehicle accidents, emergency travel due to illness or death of a family member, unexpected legal fees or penalties, holiday costs or a change in living arrangements. According to data compiled at the Travis Airman and Family Readiness Center since 2009, the average assistance offered to service members in a financial emergency is $938. The A&FRC financial counselors recommend that Airmen have a minimum of $1,000 per family member in a liquid savings account to increase readiness for unanticipated expenses or reductions in pay. The most effective method for accumulating financial reserves is to pay yourself first or treat savings like a bill. Airmen can easily utilize the allotment function on their MyPay account to direct a portion of their paycheck to a separate savings account. The adage "out of sight, out of mind" holds true when it comes to money that is not received in a discretionary spending account. Even small contributions of $50 add up and reduce the likelihood of an unexpected event becoming a financial crisis. The average American worker spends more than $160 per month on coffee and other nonwater beverages, which means that even a slight reduction in spending will free up dollars for an emergency savings account. Other means of funding an emergency reserve include saving deployment or income tax return money, selling unused household items and delaying large expenses such as a new car. The A&FRC financial counselors are available to assist any ID card holder with the development of an emergency fund or other financial goals. Individual and family consultations are scheduled through the A&FRC at 424-2486.