|ARE YOU SAVING FOR A RAINY DAY?|
|Posted on: Apr. 02, 2017 in Money, Debt|
April showers bring May flowers, but are you saving up for a rainy day? If you were to suddenly find yourself without a job, out of work due to an injury, or suddenly needing to replace your car, would you have the cash on hand to do it? According to a recent report by Bankrate, 28% of the Americans they polled have no emergency savings.
Experts agree that saving 3 to 6 months’ worth of expenses is an ideal emergency fund. For those with no savings at all, even a modest goal of $1,000 is a great place to start. The more you have socked away for life’s little surprises, the less likely you’ll be to rely on a credit card or borrowing from someone to get by. If you can’t afford to put money aside for savings, how will you afford to pay the credit card bill or your friend when the loan comes due?
While saving can seem overwhelming, especially if you’re already stretched pretty thin to begin with, there are a few things you can do to get started.
Saving money doesn’t have to be hard. But having some cash available for emergencies can mean all the difference when times get tough.
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