GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Yet, according to experts, planning ahead of time is the best way to help you get there.
And its more than feasible to stash away $5,000 next year.
I tell my clients not to wait for Jan. 1, he said.
Starting in November 2024 with just $100 monthly, youll have $200 extra before 2025 begins.
This early start increased my clients success rates by 64%.
However, Ive found this overwhelming for 78% of my clients.
Instead, I suggest a graduated approach that matches real-life cash flow patterns.
GOBankingRates laid out Salahis provenmonthly blueprint forbuilding an emergency fund next year.
January to March (Post-Holiday Recovery)
Salahi said start with $250 monthly.
Ive seen this strategy work for 91% of my clients.
September to December (Year-End Push)
Finally, Salahi recommended bumping up to $400 monthly.
According to Salahi, starting early has a big impact.
When clients start in November 2024, they enter 2025 with momentum, he said.
Ive calculated that early starters are 3.2 times more likely to reach their goal ahead of schedule.
More From GOBankingRates
Share This Article:
