Broken glasses, car repairs, illness, they all seem to come at the most inopportune times.
That is the way life seems to roll. The unexpected can happen at any time.
Building an emergency fund can help cover some of life’s emergency’s.
Having three months salary in a savings account would be the ideal goal, but sometimes ideal is not what happens. Even two to three hundred dollars in savings can help take the pressure off in an emergency.
You can start your savings with a small amount. A money gift or overtime wages or maybe a tax refund. If you can save a dollar a day that would be $365.00 at the end of the year. $10.00 a week is $520.00 a year. That would be a nice cushion to have.
Here are some tips to get your savings started:
1. Start Today!
2. Make the savings contribution taken automatically from your checking to your savings account each pay –day.
3. Keep up paying yourself first. You are your most important investment.
If you know you have an emergency fund it can help relieve the stress that happens when unforeseen expenses come along on life’s road.
I hope this New Year you can make saving not only a resolution but a habit for life.