Savings Option 1

How much should I be saving?

We all know that we should save money, but knowing where to start isn’t always crystal clear, especially if you’re weighed down by other debt.

You’re in luck. Our financial professionals have come up with the best way to get you on the right track.

Save $1,000 in Emergency Savings
Keeping a minimum of $1,000 in an emergency savings account will cover most minor emergencies (like if your car breaks down or furnace goes kaput) so you don’t have to rely on credit to foot the bills.
Pay off Your Credit Cards
Because of the high interest rates, credit card debt grows much faster than other debt. It’s best to get it out of the way sooner than later.
Save Three Months of Living Expenses
Not only will this prepare you in the event of a job loss, but it also gives you the freedom to take a week off between jobs if you want or enjoy extra time at home with your new baby.

How much should I be saving?