储蓄

Establish Your Emergency Fund

Life is unpredictable. One of the best ways to plan for the unexpected and to build a savings habit is to establish an emergency fund of your own. An emergency fund is money that you have set aside for unforeseen expenses.

Saving for an emergency fund takes discipline, especially when college presents you with an abundance of opportunities to spend your cash on everything from dinners out to drinks to travel. If you can put back just a little bit a week, you will be amazed at how much you have saved at the end of a year!

Check out the chart below to see how much you could save:

JUST $1/week = $52/year
$5/week = $260/year
$10/week = $520/year
$20/week = $1,040/year

Easy Ways to $ave

Keep the change

Whenever you break a dollar or get back change from a purchase, toss that money in a bank or change jar. That’s cash you may not miss, and if you don’t cash out for a year, you may be surprised at how much you’ve saved!

Create a “rewards” account

Have goal you’re trying to reach? Let’s say you’re trying to hit the gym before classes each morning. Every morning you go workout, put a dollar in a savings jar or a separate bank account. When you reach your “reward” amount ($25, $50, $100, 等), use the money to treat yourself for a job well done!

Opportunity cost

Saving for a large purchase, like a trip? It can be difficult to deny yourself the instant gratification of a dinner out or a fun purchase for a future reward. Try taking the money you would have spent on that purchase and moving it into your savings. 例如, if you’re saving for a Spring Break trip to Florida, but you want to spend $30 on a pair of new sneakers, move the $30 you would have spent on the shoes into your Florida account. You’ll get the instant rush of moving money while building your trip fund!