Who's your neighbor?
Who Needs Savings: You Do!
Who Needs Savings: You Do!
U.S. households with less than $500 in the bank
Age group Percentage
Under 35 34.5%
35-44 25.1%
45-54 22.1%
55-64 19.0%
65-74 18.8%
75 and over 14.9%
Source: Federal Reserve Board's 2004 Survey of Consumer Finances
Numbers do not lie. People fail to save and in turn create more loss of money for themselves through overdraft fees and other unnecessary expenses. As a banker, my primary concern is to help my client reach financial comfort and this is why I want to share the below steps that I believe can be a great benefit to all.
Please read and if you’re interested contact me as asoto@greatfloridabank.com or 305-756-2354 and let’s begin preparing your financial security and get rid of the habit of losing money.
As explained by Liz Pulliam Weston of MSN Money:
1. Start by keeping an extra $100 in your checking account. If you maintain this pad and resist the urge to spend it, you'll greatly reduce your chances of bouncing a check. (You also should sign up for overdraft protection, to minimize the damage if you do accidentally write a check that's too big for your balance.)
2. Then funnel $400 into your savings account. It may not seem like much, but $400 will cover a good chunk of the real emergencies that come your way, from car repairs to insurance deductibles to replacing an appliance that breaks down. Even if an unexpected expense is higher than $400, you'll at least reduce the amount you need to scrape up from other sources.
3. Then leave it alone unless you're facing a real emergency. If you're in credit card debt or owe money to payday lenders, you must get out of the habit of looking for a quick fix when you encounter unexpected expenses.
U.S. households with less than $500 in the bank
Age group Percentage
Under 35 34.5%
35-44 25.1%
45-54 22.1%
55-64 19.0%
65-74 18.8%
75 and over 14.9%
Source: Federal Reserve Board's 2004 Survey of Consumer Finances
Numbers do not lie. People fail to save and in turn create more loss of money for themselves through overdraft fees and other unnecessary expenses. As a banker, my primary concern is to help my client reach financial comfort and this is why I want to share the below steps that I believe can be a great benefit to all.
Please read and if you’re interested contact me as asoto@greatfloridabank.com or 305-756-2354 and let’s begin preparing your financial security and get rid of the habit of losing money.
As explained by Liz Pulliam Weston of MSN Money:
1. Start by keeping an extra $100 in your checking account. If you maintain this pad and resist the urge to spend it, you'll greatly reduce your chances of bouncing a check. (You also should sign up for overdraft protection, to minimize the damage if you do accidentally write a check that's too big for your balance.)
2. Then funnel $400 into your savings account. It may not seem like much, but $400 will cover a good chunk of the real emergencies that come your way, from car repairs to insurance deductibles to replacing an appliance that breaks down. Even if an unexpected expense is higher than $400, you'll at least reduce the amount you need to scrape up from other sources.
3. Then leave it alone unless you're facing a real emergency. If you're in credit card debt or owe money to payday lenders, you must get out of the habit of looking for a quick fix when you encounter unexpected expenses.
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