Do: Start Saving Money
How much is enough?
Experts recommend people save 3-6 months of expenses so that basic needs could be met if you were facing an emergency situation. If this feels like too big of a goal, consider a savings goal of one month’s rent.
Steps to start saving:
- Complete a spending plan
- Create your savings goal
- Make it public – find someone to be your cheerleader while you work on reaching your goal
- Save extra money when you are able
- Consider direct deposit into a savings account
Neighbors’ Financial Empowerment Team is here to support you achieving your goal. Reach out to set-up an appointment or visit our Financial Empowerment Center.