How to Videos - Build an Emergency Savings Fund

Emergencies are unpredictable and can affect your financial stability in an instant. While emergencies can’t always be avoided, emergency savings can help you manage unexpected events by giving you peace of mind and preventing you from going into debt. Watch this video for how to build an emergency savings fund.

VIDEO TRANSCRIPT

Life is unpredictable and sometimes those surprises come with a price. A car calamity, a medical mess, or some hot water at home. But with a little planning and commitment you can be prepared for any uncertainty. It starts with emergency savings and here's a simple five-point plan to build your savings for any urgent need. Set an emergency savings goal and save a certain amount each month. Have part of your paycheck direct deposited into savings. Save from gifts and tax refunds. Even spare change adds up. Keep track of your savings and adjust your goal when needed. Reached your goal? Fantastic! Now put your savings into an account that is easily accessible such as a money market or interest earning savings account and keep saving with your monthly plan. When you work hard and plan ahead even a total loss doesn't have to wreck your finances. Start your emergency savings now by scheduling an appointment with a banker or open a savings account online today.