Life has a way of surprising us, whether it’s a blown tire, a broken appliance, or an unexpected medical bill.
With no savings to fall back on, even a small emergency can become a big one.
That’s why an emergency savings fund matters.
You don’t need thousands of dollars on day one.
Just begin with a simple goal, like saving $500 by a certain date.
Even that small cushion can help you weather sudden expenses and keep you from relying on credit cards or high-interest loans that you’ll need to pay off later.
Instead, look for money you can redirect without major sacrifice.
Set up a small automatic transfer each payday or cancel a subscription you never use.
Or save part of your annual tax refund, if you receive one.
Put the money in a separate savings account that’s easy to access and earns a little interest.
Progress is what counts. Start small, keep going, and give yourself a safety net for when you need it.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson, and Hawes Dickerson. Members SIPC.
