Build Up Your Emergency Fund with Bragg Mutual FCU
When it comes to managing your finances, it’s imperative to stay prepared for the unexpected. Emergencies, big or small, can easily derail your financial stability and get you into a crisis. An emergency fund is a savings account with readily accessible cash set aside exclusively to cover the cost of surprise events. Setting aside some money to cover life’s unexpected events, whether good or bad is a smart move that not only keeps you on solid financial ground but also offers peace of mind.
How Much Should Be Saved?
According to most financial experts, people should put away at least three to six months’ worth of expenses. While this rule of thumb is fine, you should feel free to save an amount you’re comfortable with, taking into account how much you need for your bill obligations, family needs, debts, and other factors.
Building Your Emergency Savings
To build your emergency savings successfully, consider setting a goal, and deciding how much you would want to save each month. The most important thing is to put something away and to make it a habit. Over time, your contributions will accumulate to give you the essential emergency nest egg you need. If you struggle with adding savings to your account, consider making payments automatically by transferring a fixed amount from your checking account to your savings account.
With a Master Savings Account from Bragg Mutual FCU, you can better prepare for emergencies by saving in an account that offers a solid interest rate. Let us help you stay prepared for the unexpected with an added sense of calm to your life.
*Subject to credit approval. Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan or deposit rates are subject to change without prior notice. The information posted here is a service to our members. Although BMFCU strives for information accuracy, we do not guarantee or warrant information posted here.