Rainy day funds are a good idea and typically recommended by financial professionals. Many consumers are not spending as much, which has led to a loss in revenue for states and municipalities. Read this recent report from the Wells Fargo Investment Institute to see their perspective.

Wells Fargo Investment Institute, Inc. is a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member-SIPC, a registered broker-dealer and non bank affiliate of Wells Fargo & Company.