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Prioritizing savings is key to financial well-being.
Conventional wisdom tells us to plan for the unplanned by socking away enough to coverthree to six monthsof expenses.
Yet, Americans have accumulated a median emergency savings of just $600, reported Empower.
This lack of preparedness can have very damaging consequences.
As for next year, it remains to be seen what economic changes the election will bring.
Here are tips our experts recommended tohelp you save more of your money.
What matters is to do so regularly.
Meanwhile, McLaughlin emphasized contributing regularly toward an emergency fund.
In terms of the best way to build an emergency fund,disciplined planning and budgetingare key.
You dont successfullybuild wealthby simply taking what you have left after all your expenses.
We accomplish what we prioritize.
Prioritize savings, and invest those savings, said Johnson.
This can ensure your savings are a priority and not an afterthought.
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