Emergency savings: Why you need it and how to get started!

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Emergency savings: Why you need it and how to get started!
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According to a recent survey, more than 40% of Americans either experienced a major unexpected expense over the past 12 months or had an immediate family member who did.

Life is unpredictable — and the only thing we can really predict is that the unpredictable will happen! So it’s crucial that you prepare for it, because if you don’t, one unexpected bill could end up causing you big financial problems for a long time.

How to start building your emergency savings

The easiest way to start building your emergency savings is by having two separate funds: a rainy day fund and an emergency fund. The video below breaks down the difference between the two and then check out our complete emergency savings guide!

See our complete step-by-step guide to emergency savings, which walks you through why you need it, how to get started and where to keep the money!

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Alex Thomas Sadler About the author:
Alex Thomas Sadler is the Managing Editor of Clark.com and Clark Howard Digital Products. Alex is also the host of Common Cents, a new Clark.com series that makes money simple, so you can better understand and take control of your own financial life. Alex graduated from the University of Georgia with bachelor's degrees in ...Read more
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