PLYMOUTH, Minnesota — For many Americans a small, unplanned expense can turn their world upside down. Look in the mirror and ask yourself... can I cover a $400 emergency, like home and car repairs, or a medical emergency?
Financial experts say close to 44% of adults would have to sell something or borrow money to handle that unplanned expense. It's a situation you don't have to be in, if you take action now and get back on the right financial track.
You might think it’s stressful to save when things are already tight, but think about how much less stress you will have when you’re ready for the next emergency.
Nick Foulks, lead advisor at Great Waters Financial, shares four tips on how to start a Rainy Day Fund while the sun is shining! Here is your action list.
- GET STARTED NOW
- MAKE A PLAN
- SET UP DIRECT DEPOSIT
- CUT OUT THE LITTLE THINGS