RICHMOND, Va. (WWBT) - Don’t have a savings account? It’s never too late to start building it up.
Start small! We’re talking $5 or $10 each week. It’s a good way to get you in the habit of saving. As you watch it grow, you’ll see the value.
Another tip is setting a small goal to build an emergency fund. You won’t have to rely on credit cards if your car breaks down, or you make an unexpected trip to the hospital.
A good first goal is an amount of about $400, which is the average cost of unexpected expense. Once you have $400, up the goal to $700 and then $1,000. If you get a tax refund, make it a goal to set aside $400 or $500.
Set up your account to automatically send a small amount from checking to savings each month, so you won’t have to think about it.
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