Week 3 – Save for Emergencies
Does your wallet need a spot?
An emergency fund is the key to getting through tough times.
This week’s workout:
Save for Emergencies
- Be ready when things go sideways. From car repairs to a broken cell phone, we all face unexpected expenses and financial emergencies.
- How do you push through? Simple: have a little money set aside.
- An emergency fund gives you the financial strength to adapt and overcome adversity.
Exercise 1
Warm up with at least $1,000 in your emergency fund and keep saving until you have 3 to 6 months’ worth of living expenses.
Exercise 2
Keep your emergency fund in a safe and accessible account that is separate from your everyday checking account.
Exercise 3
Strengthen your emergency fund with an automatic deposit or by selling unused items.
Exercise 4
Mix up your savings workout routine by trying these great tips for building an emergency fund.
Join us for 7 Wallet Workouts
ACHIEVE FINANCIAL FITNESS LIKE NEVER BEFORE!
Jan. 3 Have a Financial Game Plan
Jan. 10 Spend Less than You Earn
Jan. 17 Save for Emergencies
Jan. 24 Use Debt Responsibly
Jan. 31 Protect Your Life, Loved Ones & Possessions
Feb. 7 Save and Invest for Your Future
Feb. 14 Rest & Recovery
Feb. 21 Prepare Your Legal Documents
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