We're told we're supposed to save diligently for retirement during our working years, and socking away funds in a 401(k) is a great way to do so. If your employer offers a 401(k) plan, you can consider yourself lucky. And if that 401(k) comes with a Roth savings option, consider yourself even luckier.

So what really counts as an emergency? When life catches you off guard, ask yourself if the expense is really unexpected, necessary or urgent before dipping into your emergency savings fund