Why an Emergency Savings Account is a Good Idea
November 20, 2019
Tags
advice
finance

DO YOU HAVE $2,467 SAVED FOR AN EMERGENCY?

After crunching the numbers, economists discover $2,467, or one months paycheck, is a good minimum savings amount. Having an emergency fund is equally as important when owning a business. Setting aside one month’s revenue as a cash cushion can help avoid many financial flow issues that may arise.

Tip: Open a separate savings account for your business emergency fund at a different bank than your regular bank. This will reduce the temptation to withdraw from it.

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