Emergency Savings
Save for an emergency fund before anything else
Emergency funds are there to cover:
-Job loss
-Injury
Have enough money saved to cover 4-7 months of income
Emergency funds are there to cover:
-Job loss
-Injury
Have enough money saved to cover 4-7 months of income
Where to store your funds
Use a separate bank account to separate emergency funds from everything else
-Consider a money market account
-Money market allows withdrawals only at certain minimum levels
Short-term certificates of deposit with three- or six-month terms on a regular basis.
-You'll earn some interest and be required to constantly reinvest.
-Consider a money market account
-Money market allows withdrawals only at certain minimum levels
Short-term certificates of deposit with three- or six-month terms on a regular basis.
-You'll earn some interest and be required to constantly reinvest.
52 Week Savings Challenge
Week 1 – Save $52
Week 2 – Save $51
…Week 51 – Save $2
…Week 52 – Save $1
By the end of the year $1378 will be saved
Week 2 – Save $51
…Week 51 – Save $2
…Week 52 – Save $1
By the end of the year $1378 will be saved
Saving Powerpoint | |
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