Play Live Radio
Next Up:
Available On Air Stations

Smart Money Tip: $1,000 Cushion

Everyone should have at least $1,000 extra saved up. Having that thousand-dollar cushion in your finances can do a lot for your feelings of security. It’s also evidence that you are capable of living within your means, and (possibly more importantly) holding on to your savings.

Do this today: Open up a separate savings account and have $50 automatically deposited into the account each paycheck. You’ll be less likely to touch the money because it’s in a separate place. Out of sight, out of mind.