The world has been hit with many natural disasters over the past year. In light of the most recent earthquake and hurricane on the East coast, many people are rushing at the last minute to prepare for such disasters. This month, Bill and the Believe in Your Future campaign bring you tips to prepare for disasters and safeguard yourself against other unpleasant surprises.
Build an Emergency Fund
You’re right, building an emergency fund was a tip from last month, evidence that it’s such an important thing to have! It is recommended that you have enough cash on hand to cover at least three month’s living expenses such as food, rent/mortgage, debt payments, etc. Don’t be overwhelmed by the task! Start small by making a goal to save at least $250, $500, or $1,000. Then work your way toward one month’s expenses.
Visit the Believe in Your Future website for more resources and information to help you build your savings.