The majority of Americans don’t have $400 saved for an emergency. But, a Chase poll found that Americans may be willing to do so. 80% plan to save more, and 51% say that emergency savings is their goal.
Savings is crucial to financial health. Chase Financial Education Ambassador Farnoosh Toabi shares tips and advice about how to start saving and make saving a habit. ((*watch videoTorabi states that increasing savings is the key to stability. This allows people to quickly recover from ups and downs.
Chase is committed to encouraging savings habits and supporting customers with information and resources that will help them on their savings journey.
Begin by identifying your expenses and creating a budget.
Chase offers a great tool to monitor your monthly spending and save.Budget BuilderThis baseline will help you to start saving for your future goals, even if it’s small.
says Torabi. “My advice is to automate,”https://www.chase.com/personal/checking/savings-program”There is a great feature through the Chase App called This feature allows you to save as low as $1 per day.”>Autosave which allows you to decide on your own how much you want to save and how frequently you want to save, so you can feel in control of this. The good news is the technology does the savings for you.”Consistency is important, but savings is all about you. If you have more cash in the month, you can increase your savings. However, if you are tight on funds, it is okay to take a break or draw from your savings to pay for unexpected expenses.
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For more information on saving money, and tips to help you make it work for your benefit, click herechase.com/autosave
