Emergency Savings Tips

Being financially secure means you have a fully funded emergency savings account

Follow these simple steps to start saving today:

• Open a Savings Account

• This should be a separate savings account, not in the same account as your holiday, vacation, or regular savings funds.

• Just Say No

• Do not get a debit card, checks, or use this account for overdraft protection.

• Make a Plan
  • Start with a yearly savings goal and break it down by month, then per pay.
  • Make your goal attainable, don’t set yourself up for failure, $25 a pay adds up over time.
  • Track your spending and saving to see if you could be putting more funds toward your emergency fund.
• Save Automatically
  • Set up automatic transfers from your checking to savings when you get paid
• Keep Your Eye On The Prize
  • Only use your funds for emergencies:
    • Broken appliance
    • Auto repairs
    • Job loss/lay-off
    • Long term illness or injury
• Don’t Stop Saving
  • Once you fund your emergency savings (at least 6 – 8 months worth of pay) use those funds for:
    • Debt elimination
    • Retirement contributions
    • Lifestyle changes:
      • New Home
      • Start a Family
      • New Vehicle
      • House Remodel
      • Vacation