Financial expert on importance of having a rainy day fund
By:
CBS 58 Newsroom
Posted: May 28, 2021 9:05 AM CDT
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(CBS 58) – Local financial professionals are encouraging people to create rainy day funds for unexpected expenses.
According to Drake and Associates’ Tom Neumann, 30 percent of Americans can’t cover three months of expenses.
He shared tips on how to start building one:
- Review your budget
- Cut expenses
- Automate savings
- Ask for help