How to build your emergency savings
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- Опубліковано 17 кві 2023
- You never know when an emergency will happen. In this video, we’ll show you how to be prepared by building your emergency savings.
Your emergency savings should cover:
• Spending shocks, which are sudden expenses that pop up, like fixing an appliance or repairing your car. Try to save enough to cover 2 to 4 weeks of expenses, or $2,000.
• Income shocks, which are longer-term financial burdens, like losing your job or ongoing medical expenses. Try to save enough to cover 3 to 6 months of living expenses.
Start saving now, so you’re ready for anything that comes your way.
If you've got a retirement plan at Vanguard, you can find more resources on emergency savings at vanguard.com/financialwellness.