Reported 3 days ago
A recent Yahoo Finance survey reveals that one-third of US households cannot cover a month's expenses without income. Pierre Habis, head of Synchrony Bank, emphasizes the importance of establishing small savings habits as a foundation for creating emergency funds. He advises starting with minimal amounts and utilizing high-yield savings accounts for better liquidity and interest. Maintaining discipline is crucial, and separating emergency funds from checking accounts can prevent unintentional spending. Ultimately, developing a savings routine is likened to maintaining a healthy lifestyle, requiring consistency and effort.
Source: YAHOO