HOW TO BUILD AN EMERGENCY FUND

Emergency funds are major and if you don't have one - it should be your next financial goal.  An emergency fund is essential if you were to ever suffer from a large financial loss, such as losing your job or receiving a large medical bill.  Things of this nature happen unexpectedly, so make sure to start saving for your fund today.  Here's how...

1. You need to save three to six months worth of living expenses.  Saving this much can take some time, which is why you must start now.
2. To save money, start small and increase over time as you get more comfortable.  You can auto draft money out of your paycheck each month.  Making it automatic helps you not miss that money!
3. Add "emergency fund" into your budget.  Make your fund a tangible item so that it's not forgotten.  Think of it as a bill.
4. Receive a work bonus?  Tax refund? Save some and add to your fund.

Always remember, this fund is for emergencies only.  Check out our savings accounts here, LNB Savings, if you are ready to set one up.