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r e d f c u.o r g
YOU ASK – WE ANSWER!
Do not email any account or personal identification information.
Call Redstone at 256-722-3796 to schedule an appointment with an
accredited financial counselor to discuss your options. Need answers?
Send your financial questions to: aspire@redfcu.org
Need financial security? An emergency
fund is a great place to start. An
emergency fund gives you peace of mind
during unexpected financial situations,
allowing you to handle emergencies
without going into debt.
Why is it important to have an emergency fund, and how much
should I save?
An emergency fund is crucial for financial stability because it provides a
cushion when unexpected expenses arise, such as medical emergencies,
car repairs, or job loss. is money helps you stay out of debt when
those tough times come.
Generally, you should aim to save three to six months' worth of living
expenses. However, if you can't set aside that much, save what you can.
How do I begin building an emergency fund?
Some helpful hints on starting emergency savings include:
• Opening a high-yield savings account (like our Brighter Day Savings)
to help your emergency fund grow faster with dividends.
• Keeping your emergency fund separate from other accounts to avoid
spending it by mistake.
• Setting up automatic transfers from each paycheck to easily build your
emergency fund over time.
EMERGENCY SAVINGS
