On Sunday, April 11, 2021 from 10:00 a.m. – 10:15 a.m. CT Money Smart Week will host “Savings: A Little Can Make a Big Difference.” This virtual event is part of Money Smart Week, a week-long initiative from April 10-17, 2021 that aims to help people, especially those hardest hit by the Covid-19 pandemic, better manage their personal finances through the coordinated efforts of experts and educators across the country.
Have you heard that saving three months’ living expenses is necessary to cover emergency expenses? Many financial education programs equate this amount with adequate emergency savings. While this guidance may work for some people, it isn’t a realistic goal for many. Learn how and why a much smaller amount of savings (hint: in the low hundreds) can help keep your rent/mortgage protected and utilities on. Additionally, learn just how little you might need to save per paycheck to reach these realizable goals. As a bonus, achieving these recommended amounts will allow you to be more financially satisfied and less likely to have to resort to high cost borrowing options like pawn shops or payday loans.
During this presentation, the FINRA Investor Education Foundation will review how even a very modest savings cushion can be associated with major life improvements.
Money Smart Week programs are sponsored by the American Library Association and the Federal Reserve.
This event is free and open to the public, but registration is advised. Submit your questions during the registration process.