Build Your Emergency Fund

Build Your Emergency Fund

There is no better time to start saving for the unexpected than today! Whether you encounter a job loss, medical bills, or other major expense, having an emergency fund can help keep you afloat during your time of need.

An emergency fund is the money saved for such events to cover the current loss of income, to pay for any incurred expenses from an emergency, and to help you recover quickly from it.


It is important that you can have quick access to your emergency fund. Wondering where is the best place to allocate your money? A savings account will keep your money safe while providing you with quick access to withdraw your money when needed.

Now that you know the importance of an emergency fund, it is time for you to create your own emergency fund! Here are a few things you should consider:

  • Create a monthly goal: Each month set aside the amount that you wish to save. The amount that you set aside will vary based on your individual income. and other commitments that need to be paid. Consider taking a small percentage from your paycheck and increasing the percentage every month if your budget allows.
  • File your tax: The refund you receive after you have filed your taxes can be deposited into your emergency fund.
  • Stop over spending: Be sure to track your budget. If you see yourself overspending in one area it is time to reevaluate how you are spending your money, because it can be taking away from your emergency fund.
  • Second job: If you have a few extra hours during the week consider taking on another job. The extra income can help grow your emergency fund.

You now have the background knowledge to start building your own emergency fund! Find your Community Financial Service Centers, CFSC, near you!

“Make preparations in advance – you never have trouble if you are prepared for it.” – Theodore Roosevelt

Face Your Debt

Face Your Debt

Confronting our issues head on is a challenge that most of us face. Although we know that it is important and may be time sensitive we usually put it aside hoping it will go away or wait until the very last minute to face a problem. However, most of us have learned the hard way that our financial problems do not disappear; instead, if not taken care of, the problem will still be there and will likely become worse.

Face Your Debt

Below are a few tips to help you overcome this challenge and face your debt:

  • Know The Problem: It is important that the first step that you take is to acknowledge your financial situation. After you understand the fundamental reasons for your debt situation, you can find the best resolution by seeking debt advice.
  • Expert Advice: Seek advice from an expert rather than a family member or a friend. Taking your problem to an expert will increase your chances of getting back on track financially. Once you have sought out help from an expert it is now time to put their advice into action.
  • Prioritize: Now that you have gained expert advice- prioritize step by step actions that you need to follow in order to get out of debt. Arrange them by importance first and stick to this list in order to get out of debt.
  • Learn From Your Mistakes: After you have gained advice and changed the tract of your financial situation be sure to reflect back from where you started to where you are now. Think about what you changed, from how you have saved or spent money, steps you took to pay off loans, and what you have gained/lost because of it. In order to move forward financially, learning from your previous mistakes will help you immensely in the future to avoid repeating them.

Try out these tips to face your debt head on. The key in facing your debt is acknowledging the problem. Once you have come to terms that you need to change your financial situation there are endless opportunities that can help you.

CFSC is a third-generation, family-owned check cashing company with 175+ locations nationwide. To learn more about our financial services, feel free to visit our website!