15 Basic Money Saving Tips
12. Create an Emergency Fund
A common hole in many consumers financial plan is failing to create an emergency fund that can actually help in time of need. When a tragedy occurs, there is often no sufficient time for one to take out a loan or borrow money from a friend or family member. The emergency needs can range from having to get unplanned repairs to one’s automobile to having to travel home in the event of a family emergency. Until sufficient funds are in place, establishing the emergency fund should be a top priority of all consumers. There are a number of tricks to helping the fund grow quickly to include placing apportion of any bonus monies or unplanned income into savings as well as a set amount or percentage of money on each pay day.
