Building an Emergency Fund

 We’ve all heard of the best practice of having three to six months of expenses saved for an emergency fund. While that is a great goal for some people, that can be an overwhelming place to start for others. Instead, America Saves encourages our savers to start with an emergency fund of $500.

A speeding ticket can set you back a couple hundred dollars. Have you ever shattered your cell phone? That can put you back a couple hundred dollars. The same goes for many other unexpected expenses that occur all the time. A hundred dollars here, three hundred dollars on some new tires there. We’ve all been there. Having access to just $500 will help cushion your bank account when those expenses hit.

Regardless of your current financial situation, America Saves has some tips and tricks to get you closer to establishing an emergency fund so that you can feel financially confident when those real-life unexpected expenses occur.

For tips and tools on how to build an emergency fund, we encourage you to share the following articles, social media content, graphics, and resources with your constituents, partners and the general public.


Social Media Posts

Please incorporate these posts (as written or changed to suit your brand voice) into your social media content over the month of August. They will be great to share with your community to get them in a savings mindset!

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Life comes at you fast. We want you to be ready for those small, inconvenient emergencies that "pop up"— like a car or home repair. We encourage you to "Set a goal. Make a plan." by taking the @AmericaSaves pledge, and receive tips and nudges to help you #save.

 

Facebook | Twitter | Instagram

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Savings made easy: Pick something and cut it. Simple things like cutting cable, or taking your lunch vs. going out, and diverting that cash into savings will have you well on your way to your $500 Emergency Fund! Get more tips from @AmericaSaves here: bitly.com/2ZmjUIR

Which one of these have you experienced unexpectedly? According to the Federal Reserve, less than 1/2 of Americans have $400 in cash saved to help in the case of an emergency. Here are 38 more reasons why you should #save. Read it & take the @AmericaSaves pledge: http://bit.ly/2M4p6y5

 

Facebook | Twitter | Instagram

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Time for a Financial Check-Up! Summer Solstice may be done for 2019, but we still have savings goals to meet, right? Use this checklist to make sure you're on the right track. http://bit.ly/2yuj0OI

 

Facebook | Twitter | Instagram


Conversation Starters:

Conversation Starters are intentional themes and topics we’ve purposefully created to drive important conversations with your community on your social networks. Our hope is that they bring you some new, fresh engagement! Be sure to tag us in your posts, so that we can interact with you.

America Saves on Facebook | Instagram | Twitter | Linkedin

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It's "Back to School" season, which can be costly for parents! What are some of your best tips on saving on those back to school supplies and clothes?

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While it's only August, the holidays will be here before you know it! Do you save up for the holiday season year-round, or work Holiday shopping into your budget during October - December?


Resources

Blog Content:

Six Simple Steps to Jumpstart Your Emergency Fund

Most Americans Don’t Have Enough Savings

Start an Emergency Fund Today–You Will Thank Yourself Later

5 Ways to Start and Maintain an Emergency Fund

Summer Solstice Financial Checkup

38 Reasons You Need at Least a $5000 Emergency Fund

Video:

Automated Savings


Events

SallieMae and America Saves are hosting the #SavingForCollege Twitter Chat Wednesday, September 25th at 2pm

Mark your calendars and be on the lookout for more information as we get closer to this event.


Tip of the Day

  • Let this be the year that you put an end to bringing in the New Year with financial guilt and stress.  http://ow.ly/rcJIn 

Saver Tips and Stories View all »

Inspired to Build Savings By Starting Small

With little-to-no money in the bank and living on a limited income with her adult daughter, Sharon wasn’t sure if building up savings for her future was even possible. “At my age, to put debts behind me would be a relief,” she said, but she wasn’t quite sure how to even get started with a savings plan. That all changed when Sharon attended the Great Lakes Michigan Saves Pay Yourself First Saver’s Summit during America Saves Week.

Read more...

The Gift of Homeownership

Quaneka Willis, a single mother of three children, was receiving rental assistance through the Housing Authority of the City of Milwaukee when she decided to take control of her finances. So, in September of 2013 she attended the Make Your Money Talk program and pledged as a Wisconsin Saver. In less than 12 months, she had maximized her savings and was beginning the process of purchasing her first home.

Read more...

Starting and Continuing a Personal Finance Journey

When Kiara Hardin, now a junior at Western Illinois University, became an intern with the Chicago Summer Business Institute during her sophomore year of high school, she began her personal finance journey. The program required participants to open a savings account.

Read more...