Even if you feel secure at your job and things are going well, you should still make an effort to save at least 10% of your paycheck. The workplace is very unpredictable.
You could have a job today and then before you know it, you’re diving under the couch cushions to look for change.
If you don’t have firsthand experience with a fickle work environment, I can assure you it’s only a matter of time, my friend. So start saving.
I can already hear you groaning. If you have saved money in the past, but you keep making withdrawals for mini “emergencies,â€ I have a solution for that–automation.
Set up your bank account so that a portion of your check automatically goes into savings. The best thing is to have a separate online account for your emergency savings fund. This way, you won’t be tempted to dip into that fund. As the saying goes, “out of sight, out of mind.â€
Now go set up your account.