News — Building Emergency Savings

Building Emergency Savings

Building Emergency Savings

Easy Saving Strategies for Building Emergency Funds Some financial experts suggest consumers should be saving 10 percent of their income for unanticipated expenses.     These are essentially financial “emergencies,” such as replacing the engine in your car or repairing damage to your home. However, according to the U.S. Federal Reserve, most Americans save just 2.5 percent of their disposable personal income, which can make preparing for financial emergencies difficult. Fortunately, there are ways to build a solid emergency fund. Consider taking these steps: Get serious about repaying debt. Every dollar that you pay in interest on debt is a dollar...

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