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

|
Emergency savings: Why you need it and how to get started!
Team Clark is adamant that we will never write content influenced by or paid for by an advertiser. To support our work, we do make money from some links to companies and deals on our site. Learn more about our guarantee here.
Advertisement

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!

Advertisement
Alex Thomas Sadler About the author:
Alex is the Managing Editor of Clark.com and host of Common Cents, a series that makes money simple. By breaking down complicated concepts, Alex shows you how to better understand your money and make smarter decisions — so you can take control of your own life and future! Learn more here.
View More Articles
  • Show Comments Hide Comments