The Health Savings Account (HSA), not to be confused with a Flexible Savings Account (FSA), was created in 2003 by President Bush. The HSA allows you to pay for health care with pre-tax dollars.
An emergency fund is a cash reserve specifically set aside for major unplanned expenses or emergencies. The important take away of an emergency fund is: don’t be afraid to use it when you need it
The 401(k) takes it’s name from section 401(k) of the Internal Revenue Code. A 401(k) plan can give employees a tax break on money they contribute (depending on if it is pre or post tax).
