By Andrea Barreras, Western State Bank New Accounts Representative
After the craziness of 2020, we’re all looking for a fresh start and perhaps would like to live a little differently than we have in the past. One of your resolutions for the new year may be to make sure you have an emergency fund available.
It’s recommended to have three months’ worth of living expenses if you live in a two income household, or six months for single income households. That may seem like a daunting task, but with these simple steps you can move toward having a financial cushion when unexpected expenses pop up.
1. Automatically deposit a portion of each paycheck into a savings account. Even $10 from each paycheck can add up over time.
2. Skip one small discretionary treat each week and “treat” your future self.
3. Set up your savings account & forget about it. Let the money grow over time.
Visit with a Western State Bank New Accounts representative to set up your savings account today, and get started on the right track this year.
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