Are you prepared for a financial emergency? Most Americans do not have an emergency savings fund just in case they run into financial issues. It could be car troubles, a family emergency, or the loss of a job. Do you have emergency savings or even know where to start? Listed below are a few tips to get you moving in the right direction of creating an emergency savings fund.
- First, you should chart your monthly income and expenses, and then set a monthly savings goal. This will move you in the direction of getting used to the idea of saving. But try to remember to make sure it is an amount that is comfortable you. Once these two musts are worked out you can start to develop a plan for where your emergency funds will come from.