Prepare for Emergencies

Emergency Savings Strategies to Improve Financial Security

No one wants to think about all the things that can go wrong in the course of modern life – and they really don’t want to think about how to pay for it. But an emergency savings account is a cornerstone of financial wellness.

Because the cost and timing of a future emergency is undefined, it’s easier for people to put off saving for it. In addition, the monetary goals for emergency savings – typically the equivalent of three, six, or more months of income – are so large that many people feel it is unattainable. The key is progress, not perfection. Try these strategies to start building your emergency savings today.

Saving for emergencies can be daunting. At Alerus, we want to do what we can to make it easier to take this important financial step. Our Alerus emergency savings account rewards savers with a higher interest rate if they contribute to their account regularly, and our advisors are ready to help you sort through the details of budgeting, insurance, and goal setting. Talk to an Alerus advisor today.