Step two of building of a better financial you: Establish a $1,000 emergency savings fund. Unexpected emergencies and expenses can be less stressful when you are financially prepared. Build your savings quickly by selling items you no longer use or need and by cutting back on wasteful spending.
TIP: Establish a payroll deduction to be deposited directly into your emergency savings account at AMOCO.
Greetings everyone!
April's financial tip is an important one. But, even more importantly is deciding what classifies as an EMERGENCY. Many times, people dip into their emergency savings when they realize the holidays are here. But, are the holidays really an emergency?? No. They happen at the same time year after year. This year, make it a goal to also save for the holidays so you won't have to dip into your emergency fund. Use your emergency fund for unexpected events like car repairs, hospital visit, new tires, etc. Then replenish your emergency savings fund as quickly as possible. Stop by AMOCO to learn more about our Holiday Savings Account.
- Tina
Posted by: Tina - AMOCO team member | April 01, 2009 at 04:57 PM