02/02/2023
How’s your financial savings plan coming?
Part 1 of 3 📕
Do you have an emergency savings of 3-6 months worth of income❓ This is Step 1, or bucket #1 of financial stability.
Most individuals do not, 51% of Americans have less than 3 months worth of emergency savings.
Learning how to build an emergency savings and KEEP IT is one of the first steps to financial independence.
So HOW do you build an emergency savings⁉️
Option 1️⃣ Creat a Savings Habit
- Set A Goal, have a specific 💰you are aiming for in a set time frame ⏳
- Create a system for making regular contributions to your savings➕⏰
- Monitor your progress, make sure it’s growing at the pace it needs to grow📈
- celebrate your success 🥳👏🏼
Option 2️⃣ Manage your Cash Flow
- Look at your spending for the previous month🧐
- Find areas of excessive spending 🥩🍻🎮🛍
- Set a budget 🧮
- Schedule automatic transfers to your savings 💸
Option 3️⃣ One Time Opportunity to Save
- Tax season 📂
- Holidays 🎄
- Birthdays 🎁
Let’s all get set up for a successful 2023❕
If you or anyone you know needs help or feels like their head is spinning on the topic reach out to us❕
