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Building Emergency Savings

Everyone knows it’s important to save money; but if you’re like most people, that’s easier said than done. According to Bankrate’s recent Financial Security Index, approximately 28 percent of U.S. adults have no emergency savings. As 2020 has illustrated, life is unpredictable, so it’s important to be financially prepared for the unexpected. But saving money doesn’t have to feel like a sacrifice, and you are not alone! There are several small things you can do every day, and lots of available resources that can help you build savings without feeling like you’re missing out on life.  

 

Our financial education resources listed below look at practical ways to help you start saving or build on steps you already take to make your money go farther. With some thought and planning, building savings can be less intimidating than it seems.  

 

Emergency Savings: Do you have enough in savings in case you lose your job or have a minor emergency? Explore how much is recommended you maintain in an emergency fund to cover 3, 6 or 12 months of unemployment or a minor emergency.  

 

Tips for Setting a Budget: Explore ways to change your daily spending habits and build savings over time.  

 

Contact your Allegiance Banker today to discuss the best options for you and your family.

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