YOU MATTER TO MADISON AVE .
So what happens after you hit that $1000 mark? Do you stop putting that money aside? As Whitney would say “Hell to the NO!†You open up another account with your bank and credit union and begin putting the same amount of money into a savings account. THAT is the savings account that YOU DON ’T TOUCH! Have the money automatically taken out of your check, so that you don’t even miss it. I would even recommend opening an account where you don’t do your regular banking; just so you wouldn’t be tempted to withdraw or transfer those funds. For instance, if you have an account at Citibank, open your savings at Chase. Or even one of those obscure, but efficient credit unions where you have to go out of your way to access money.
Experts recommend you have at least 6 months of cash reserves on hand at any given time, just as a cushion again job loss. That money is supposed to cover your bills at the same rate it would if you were employed. But a recent study shows that most Americans have no savings account. In fact, some of the lesser affluent countries save more on average than most Americans. And there are many factors that contribute to that.
Award winning services for graduate students and business professionals.
Member Rewards
No comments:
Post a Comment