It can be hard to put even a little money into your emergency fund each month but once you've set aside enough cash to cover six months of living expenses, it's time to start thinking about your other financial goals. Should you start directing the funds that you were saving for a rainy day into a retirement account or into an account for that dream vacation? Should you start saving for a down payment on a new home or to renovate the one that you have? Carmen Wong Ulrich explains.
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Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.