Savings Plan
Building a habit of saving can change your life, whether it’s for emergencies, future goals or simply achieving peace of mind. Learn how small savings today can lead to big changes tomorrow.
42% of Americans have
less than $1,000 in savings.
42% of Americans have
less than $1,000 in savings.
20% Saving Rule
It’s important for you to develop a savings plan that works specifically for your needs, guides you toward financial health, and moves you closer to your personal financial goals. According to the 50-30-20 Budget Rule, 20% of your income should be allocated to savings and debt. Devote this chunk of your budget to paying down existing debt, creating a financial cushion and planning for your future.
How, exactly, to use this part of your budget depends on your situation, but will likely include the following:
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