We are happy to partner with brightpeak Financial and The Motherhood on this post.
Emergencies happen to families all the time. We have cars, children, pets, a house, something is bound to happen and yet I was shocked to discover that so many Americans are struggling with less than $400 in an Emergency Fund. Most families don’t budget for unexpected expenses that’s why it’s so important to have a savings.
Did you know that approximately 62% of Americans have less than $1,000 in their savings accounts? All of this according to a new survey by Google Consumer Survey for BankingRates.com. These facts make one thing clear it is more import than ever to have an emergency fund of at least $1000 to cover minor emergencies (like if your car breaks down) so you don’t have to rely on your credit cards. Credit cards have a lot of hidden fees associated so it’s best to have the cash in savings for these minor emergencies.
I am the worst at spending, I can easily send our family budget over the top. That’s why I wanted to take the brightpeak $500 Savings Challenge.
bright peak Financial helped me establish the type of savings account our family needed and how to set it up. We signed up and right away received the first emails to help us jumpstart our savings and start to add to our savings account. Each day I received a new savings challenge to help me add to my savings, we decided to set aside $50 a month and also find other ways to add to our savings.
How I Found Success & Savings
I decided to start setting aside a small amount each month for savings. We’re still fresh with student loan debts from college so I wanted to keep it manageable with $50 a month to our savings account. I also use the tools form the challenges and was able to find other savings.
- Saved $40 a week by making my own tea at home and not going to my favorite coffee store.
- Sold unused dance wear in a Facebook group for $130
- Saved $50 by using coupon and savings at the grocery store
- Cut back on cable bill to save $30 a month.
- Saved $75 by not eating out for a week.
We’ve been using the tools we used with the brightpeak $500 Savings Challenge and not only are we generating an emergency fund but we’re also saving and being more aware of our spending habits. Sign up today and start your savings.
Signing Up for the $500 Savings Challenge is as easy as: – Visiting the website to sign up.
Does your family have an emergency fund and a plan for savings?
To jumpstart your savings we have a $25 VISA gift card to give away!