Pay with Points!

Build up a stash of credit-card rewards points as part of an emergency fund. I always keep at least 25,000 points on my AmEx as a backup emergency fund. I can use my points to pay for groceries at Walmart or Amazon, or pay for things through PayPal.

-Kimberly Foss, President and Founder of Empyrion Wealth Management, Roseville, Calif.