Most people like surprises. Unless, of course, they involve spending money.
Life happens, and sometimes, due to unforeseen circumstances, you suddenly need cash…but don’t have it. According to a recent study, a $500 surprise expense would put most Americans in debt.
Nearly six in 10 Americans don’t have enough savings to cover a $500 unplanned expense.* How about you?
- If you get paid every other week, set up a bi-weekly automatic $20 transfer from your checking to your savings every pay check and you’ll have $520 (plus interest) in one year’s time.
- Set up a monthly $42 automatic money transfer from your checking to your savings and you’ll have $504 (plus interest) at the end of one year.
Start Saving Now
Experts say you should have a minimum of 6 months of your pay saved for emergencies. Do you?
- If not, but you would like the peace of mind that comes with knowing you’ll be covered in an emergency, start smaller and keep adding to it over time.
- If you make $3,500 per month, you’ll need a total of $21,000. Start by saving $3,000 per year and build up your emergency savings over time.
Log into online banking, add a secondary savings to your account and set up your automatic transfer.
Want us to set it up? Call us at 800.448.9228.