Systematic Savings

The United States has one of the lowest rates of saving money in the world. Our buy now pay later style of living has put many of us in the hole. Having a cash savings account that we can fall back on can be a huge benefit if our financial situation takes a turn for the worse. Many people feel that do not have the financial resources to start a savings account. Some people start a savings program then use the savings for a purchase of fun things instead of emergency items. One way to achieve a cash reserve is to systematically put money into a savings account set aside strictly for emergency purposes. Many banks and other financial institutions will allow as little as $25.00 a month transferred automatically into another account. The more ambitious you are the more money you could transfer. If you do $50.00 a month that is $600.00 a year. Some might think this isn't much, but if you can do this for a few years you could have a nice nest egg to fall back on in times of need. Having a saving plan is a sure step on the way to financial security. If you have to give up a few things to start this plan, do it. It will be worth it.