Saving a $10,000 Emergency Fund
Assess Your Spending
You can’t start saving until you know how much money you spend and, more importantly, what you spend it on. You can find this information out easily, and for free (important for that savings goal) through online sites such as Mint.com, which allow you to link your bank account
information with Microsoft Excel spreadsheets, or even with pencil and pad, said Aaron Hatch, a certified financial planner
and co-founder of Woven Capital.
information with Microsoft Excel spreadsheets, or even with pencil and pad, said Aaron Hatch, a certified financial planner and co-founder of Woven Capital.
“If you realize you’re spending $200 a month going out to lunch, you might make different decisions
,” he said. The point is, it’s easy in the rush of life to think that your morning Starbucks or “occasional” impulse buy are no big deal, but they can really add up. Lattes, lunches and that must-have blouse might be the difference between you and your emergency fund
.
,” he said. The point is, it’s easy in the rush of life to think that your morning Starbucks or “occasional” impulse buy are no big deal, but they can really add up. Lattes, lunches and that must-have blouse might be the difference between you and your emergency fund.
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