Save for surprises
Surprise costs happen to everyone. A little savings keeps them from turning into debt.
A car repair. A doctor’s bill. Fewer hours at work. Without savings, surprises like these often mean borrowing, and borrowing costs extra.
An Emergency fundMoney set aside only for surprises, like a car repair or a medical bill, so you don't have to borrow.More in the glossary is money you save just for surprises.
- Start small. A first goal of $500 is great.
- Save first. Move a little into savings right when you get paid, before you spend.
- Make it automatic. Even $5 or $10 a paycheck adds up.
Want to see how long it will take? Try the emergency fund builder.