Saving Money for Emergency Fund:The $5 a Day Challenge

Are you ready to start saving money for emergency fund? Then begin with $5 per day.
If you save just $5 per day for the month of November, then you will have $150. Do this for an entire year and you will have $1825. What a great way to start saving money for emergency fund, and then for your retirement.

Why November? Well, this November is the tenth Financial Literacy Month so celebrate by getting on the path to financial empowerment.

We all know that we need an emergency fund. We all know that we should be saving money from every paycheck. But very few people are able to do it. Behavioral Economics teaches us that attempting a big project is daunting, but starting small but consistent is much more likely to be successful. If I asked you to save $100 per month, most people would say they couldn't do it. However, ask someone to save one $5 per day and they are willing to try. What is amazing is that for the price of a latte, they are able to save for their emergency fund, which is a great first step to financial empowerment.
"A journey of a thousand miles begins with a single step" so take that first step and put $5 aside today.. and everyday this month. It takes 21 days to make a habit.
-Elizabeth Naumovski
Elizabeth Naumovski is a multi award winning Financial Literacy advocate, speaker, panel moderator and a champion for women’s issues. She has spoken to numerous audiences about female empowerment. She has worked on Bay Street in Toronto Canada for over 20 years.

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Twitter: https://twitter.com/enaumovski

Website: https://www.financeispersonal.ca

Disclaimer:
All episodes of Finance is Personal are recorded in the Toronto and surrounding area, Ontario Canada. Comments expressed in each episode are those of the guest speakers and are not to be considered as specific advice tailored to the circumstances or a specific individual. Comments are intended to be general and for informational purposed only, based on information and conditions prevalent at the time of the recording. Viewers should not consider or place specific reliance on content presented as comprehensive advice, nor as an offer or solicitation to buy and/or sell securities. Individuals are strongly encouraged to seek professional advice specific to their circumstances. Market, economic, regulatory and political conditions and obligations change. Finance is Personal accepts no responsibility for individual decisions made based on reliance on the information presented in each episode.

Видео Saving Money for Emergency Fund:The $5 a Day Challenge канала EMPOWERED with Elizabeth Naumovski