Saving for a Rainy Day | Together Credit Union
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SAVING FOR A RAINY DAY

Saving for a Rainy Day

A rainy-day fund helps you prepare for unexpected expenses such as car repairs, medical bills, or home maintenance. Not sure where to begin? Here are a few starting points to set you up for success: 

  • Start saving small amounts for big expenses like car repairs, holidays, or a future move  
    • Automatic Transfers: Schedule transfers automatically between accounts on a regular basis. This helps set aside money without the need to remember to make the transfer.
    • Direct Deposits: Deposits automatically placed into your account (such as paychecks or regular income).
    • Payroll Distribution: Direct deposit feature that allows you to split your paycheck into multiple accounts automatically.

    Remember, be specific about your goals like "saving $1,000 in 3 months" works better than "just save more". Create specific, measurable, and smart goals to help you Achieve It. 

    Make A Plan

    Break It Down

    Once you know what you’re working toward, break it down into manageable chunks. Saving $1,000 in three months? That’s about $85 a week. Find an amount and timeline that fits your budget. 

    Check-In Often 

    Check in on your goals monthly. Life happens, so if you need to adjust that’s okay. Make tweaks, celebrate progress, and keep moving forward.

    Don’t Forget to Celebrate!

    Every milestone counts. Whether you hit your goal or just made it halfway, take a moment to be proud. You’re building something important.

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