Good Financial Reads: How To Effectively Build & Use Your Savings for Emergencies and More
Share this
The Secrets of Your Savings Account
by Michelle Smalenberger, Financial Design Studio
Do you tend use your savings account to hold onto cash when you are uncertain about what is going to happen?
Sometimes parents hold onto things from a first child because they don’t know if they’ll have a second child. After all, you don’t want to rebuy those same things. We also tend to hold onto cash when we aren’t quite sure what is going to happen ahead.
Have a Cash Flow System
by Joe Morgan, Best Financial Life
Every dollar you have should have a job. If you aren’t giving a job to every dollar then your dollars are working against you.
Here’s What I Mean
We all know you ought to have an Emergency Fund. It should be a defined amount that you keep available. You should also have available any cash that will be going out the door in the next five years. This would be expenses that you have planned that extend beyond your income.
Flexibility Funds: Beyond Emergency Savings
by Britton Gregory, Seaborn Financial
You've got your emergency savings built up. Your short-term goals are on track to be fully funded. Your cash flow easily fits into the 50/20/10 rule. You've paid off your credit cards and other high-interest debt. If you're in that place: congratulations! Also, you're probably wondering: what now?
Create a Savings Target
by Joe Morgan, Best Financial Life
Your savings balances may fluctuate a lot during the year depending on stock vesting, property or income tax payments, and many other things. But your Savings Target should not fluctuate.
Your Savings Target is made up of two things:
- Your Emergency Savings
- Your Net Cash Needs over the next 5 years
Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
Share this
- Good Financial Reads (906)
- Financial Education & Resources (892)
- Lifestyle, Family, & Personal Finance (865)
- Market Trends (114)
- Investment Management (109)
- Bookkeeping (55)
- Employee Engagement (32)
- Business Development (31)
- Entrepreneurship (29)
- Financial Advisors (29)
- Client Services (17)
- Journey Makers (17)
- Fee-only advisor (12)
- Technology (8)
Subscribe by email
You May Also Like
These Related Stories

The 3-Step Process to Saving 40 Percent of Income

Build an Emergency Fund: 5 Questions to Consider As You Save
