Emergency funds create a financial buffer that can keep you afloat in a time of need. Here are four simple tips to help you build your emergency fund…for when you need it most!

Calculate the total that you want to save. Use SeaComm’s Online Financial Management service if you need help figuring out how to add up your expenses. This free service also helps you budget, maintain financial goals, and keep track of your spending with minimal effort. Click here to get started!

 

Set a monthly savings goal. This will get you into the habit of saving regularly. A great way to do this is by automatically transferring funds to your savings account each time you are paid. Contact our call center at (800) 764-0566 to set up an automatic transfer!

 

Keep the change. When you receive $1 bills or small change after breaking larger bills, drop some in a jar at home. When the jar fills up, deposit it into your savings account.

 

Assess your contributions. After a few months of saving, decide whether or not you should be saving more – and make adjustments as needed. This is especially important if you go through an expensive major life event such as marriage, or have an emergency that requires you to dip into your existing fund.