2/25/2016 11:47:34 AM
Last year, a Bankrate.com survey found that only 38% of Americans could come up with $500 in savings to cover an emergency expense.
That might sound discouraging, but the good news is that you can start small. Think of it this way – saving $.50 a day for a year builds nearly 40% of a $500 emergency fund. Having an emergency savings fund will give you peace of mind knowing that you can handle the unexpected.
The Minnesota Department of Commerce and the University of Minnesota Extension have put together resources to help you identify savings opportunities. Visit "/commerce/consumers/your-money/banking-saving/saving.jspHave you Started to Save,” for information on creating a budget and reducing debt as saving strategies.
You can also visit the America Saves website for a Five Saving Strategies.
Banking & Finance