I've done boxing for over twenty years. (Love it!) But I painfully tore a ligament in my hand a few months ago (Ouch! Didn't love it.)
With x-ray, MRI, and physical therapy, my medical bill (with insurance) will be about $1,500. (Ouch. Also, don't love it.) But, thankfully I have about 4+ months of emergency savings that can come to my rescue!
If you've been here long enough, you've already read this.
The best way to save is to automate it with a direct deposit -- even if it's $20 per month or paycheck.
Here are 6 tools and resources to help you automate your savings:
- Digit: a super cool app that automatically saves your digital spare change. It rounds up each dollar you spend and puts it in your digit savings account.
- Smarty Pig: you can set up a direct deposit to smarty pig (yes, it's a real bank) and create subsaving accounts
- Capital One 360: also a savings account that you can set up multiple sub-accounts within
- Everbank High Yield: This is a "high yield" savings account that earns interest. That means that your money makes you money. It's not as fancy as the others, but it will help your money work for you at a rate that's within the top 5% of other competitive accounts (it's part of what makes this a good one)
- Simple.com: And, of course, my fave bank, Simple. It's a checking account with savings buckets within it.
- 1% Challenge: Here's a FB group who's mission it is to help you save 1% more each month. There are some good tips and resources in there.