Americans under 47 rank 'not saving enough for emergencies' as their top financial regret, per Bankrate. Here are two experts' tips on how to start.
Its well known that having an emergency fund can prevent an unexpected expense from derailing your budget or sinking you further intoHere are the factors Americans say prevent them from growing their emergency savings and one strategy that can help you easily begin building one.
Rather than focusing on the dollar amount you can funnel toward your emergency fund, try finding a strategy you can consistently maintain. One way to do that is by automating your savings contributions. "The beauty of automating that is that you're paying yourself first," McBride says. "And you're forcing yourself to live on less than you make, which is the very essence of building wealth over time."
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