Two years ago, we launched the Rainy Day Fund. The goals of this product were twofold. We wanted to offer a way to help our investors Be Intentional and Be Prepared.
The Rainy Day Fund was created specifically to help investors save for something specific or for the unexpected.
Meet two of our investors who shared their Rainy Day Fund stories with us.
Meet Michael*. Michael opened a Rainy Day Fund for he and his young family, so they could start saving for the unexpected. He wanted to Be Prepared for an emergency. That unexpected event happened during the February snow and ice storm. Even though they took all precautions, one pipe still froze and burst. They were able to pay for the repair with the money in their Rainy Day Fund.
“It was so nice to know we had a savings available to pay for this repair. Things like this always catch you off guard, so it’s a great idea to be as prepared as possible. The Rainy Day Fund helped us be prepared.”
Meet Abby*. Abby and her husband had gotten into a lot of credit card debt years ago. They worked hard to pay off the debt and made a promise to each other that they would never get into debt again. Right when the Rainy Day Fund launched, they moved to a small house not too far from a lake with boat access only a few blocks away. They decided they would use the Rainy Day Fund to save for a small boat. They were saving for something specific. They were Being Intentional.
“Although we wanted a boat right away, we knew the promise we made about not getting in debt. We made a commitment to using the Rainy Day Fund for this specific purchase. By the summer, we will have our new boat! Thanks to the Rainy Day Fund!”
*Names were changed to protect the identity of investors