For individuals living paycheck to paycheck, the recommended procedure for building an emergency fund is to start small by setting aside a manageable amount (e.g., $20 or $50) each month, automating transfers or direct debits to a separate savings account, and gradually increasing the contribution amount as the financial situation improves.

Authors

• Person: Gina Coletti Organization: Nixon Peabody Trust Company
  How to build and maintain an emergency fund

Sources

• How to build and maintain an emergency fund www.nixonpeabodytrustcompany.com Gina Coletti · Nixon Peabody Trust Company via serper

Referenced by nodes (1)

• emergency fund concept