While you can’t make the rain go away, you can be more prepared for the unexpected. Whether it’s a month of rainy weather, an accident or another financial burden, having a rainy day fund can make getting through it easier. Many credit unions offer accounts that help you save money in case of an emergency, or even just a rainy day. These accounts can be specific such as the Christmas Club to help you save for the holidays or just an account designed for emergencies. With Maine credit unions you are always prepared.
When creating these emergency savings accounts, it is best to keep at least two months’ pay saved up. Despite the economy, this can be easier than you think. It can be as simple as having a portion of your paycheck direct deposited into the account, or if you’ve paid off a car loan, a mortgage or an equity loan, keep right on making that monthly payment straight to your rainy day savings account. Having an emergency account with your credit union is a way of preparing for your future. So whether you use the money to make ends meet if you lose your job or if you use some extra savings to take the family to the aquarium on a rainy day; you know that like your credit union, your rainy day fund is there when you need it most.
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