Why saving for a rainy day counts
Doing something good for yourself is in part, making sure, you have enough liquid cash reserves set aside in an emergency fund to cover expenses and protect yourself when life hands you a few surprises. Learn how to get started - so you can be prepared to handle whatever comes your way.
How much do you need?
If you are ready to start an emergency savings fund, on average, experts agree having 3 to 6 months of living expenses is a good start. Think about your circumstances and set a savings goal that makes sense for you – small savings add up to a bigger sense of well-being when life happens.
What is the best way to get started?
It’s up to you to establish your savings goal and once you are ready, you can choose several types of accounts that ensure quick access to cash reserves while keeping your emergency funds separate. Learn more about how you can start to save for a rainy day.
Plan for success
Building any savings can take time. To improve your chances of success as you create an emergency fund, creating a budget can help you see where you spend your money now and where you can shave to save a little more money for a rainy day. Save more with some simple ideas and this easy tool.
Are you on track?
Once you've decided to start an emergency fund, to stay on track, it will be important to monitor your progress and revisit your goals over time to see how well you are doing. If you have not started one but you’re thinking about it, check out the articles listed above so you can know how to help your cash savings grow.