Save for Emergencies

Emergency

Save for Emergencies

Building an emergency fund is the top goal of American Savers. Nearly a quarter of savers who have pledged to save locally or nationally have chosen “emergency savings” as their first wealth-building goal. An emergency savings fund consists of a small amount of money, usually in a savings account, that you do not have easy access to. Saving for this fund starts with small, regularly scheduled contributions that build up over time. Continue reading

Pay off Debt or Save for Retirement?

retirement-nest-egg

Pay off Debt or Save for Retirement?

By: Barb Miller, Bankruptcy Specialist at LSS Financial Counseling

Wow … what a loaded question! We always hear how crucial it is to get rid of toxic debt, especially high interest credit cards. Therefore, people generally assume that paying off debt rather than investing for retirement is the correct answer. In my opinion, this is not really an either/or proposition. The best approach? Do both! Continue reading