Having emergency savings is critical to your financial health. The emergency savings goals are divided up into three tiers: minor emergencies, major emergencies, and job loss. This video informs you how much you should be saving for each type of emergency.
Don’t have time to watch the full video? Read our quick video recap:
How much to save depends on a few things: whether you own a car, whether you own a house, your health insurance, and your sources of income.
It may take time to build your savings, but it’s worth setting a goal and starting to put money towards your savings.
Having emergency savings gives you a lot more financial stability.
- Check out HelloWallet’s emergency savings calculator to get your personal recommendation: www.hellowallet.com/emergency-savings/