The Road to Building Reserves

Any successful saver needs at least three months’ reserves, so you won’t have to borrow money
in case of an emergency. Start building your emergency fund now with these tips!

Separate Accounts:

Keep your reserves in their own low-risk savings account.

Auto-Savings

Automatically transfer 10% of each paycheck into your reserves.

Start Small

Aim to build a $1,000 emergency fund first to avoid getting overwhelmed.

Bonuses

If you haven’t hit three months’ savings yet, send a part of any bonus money toward your reserves, including:
• Tax refunds
• Work bonuses
• Inheritance
• Gifted money

28% of Americans have no emergency fund.

38% of Americans could not produce $500 for an emergency without  selling something or taking out a loan.