"There has never been a time that as much as right here and right now in the recent past that an emergency savings account is vital, absolutely vital," Orman said.
Orman has made it her mission to get more people to save money in case of emergencies. In 2020, she co-founded SecureSave, a company working with employers to provide emergency savings accounts to employees."If you go back through my entire history of almost 40 years now, I've been [saying] emergency savings, emergency savings, emergency savings," Orman said.
Generally, the Federal Deposit Insurance Corporation guarantees up to $250,000 per depositor, per insured bank, per account ownership category.
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