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!
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.
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: https://bit.ly/3uk6DlK
Time for a Financial Check-Up! Summer Solstice may be done, but we still have savings goals to meet, right? Use this checklist to make sure you're on the right track. https://bit.ly/3uk6DlK