How Much Should You Have in Your Savings?

People say that you should have about six months’ worth of expenses in savings, but that can be hard to do. There are a few options listed below that will help you grow your savings, and you use this information to change the way you manage money. Most people who are starting to save money need to be prepared for emergencies, and they must use a budget that allows them to save cash over time.  

Create A Monthly Budget 

You cannot save money if you do not have a monthly budget. The budget that you are using will ensure that you are spending the right amount of money. Plus, you can use the budget to ensure you are saving money at the end of the month. You can save a bit of money every month, and you will begin to grow your savings. 

However, you need to use a few different options when saving. You can open a savings account with your bank, or you can use an app for savings. A savings app will round up your purchases to the nearest dollar, and you will have extra money saved in a special account. If you want to invest, you can double or triple your money with help from a broker. 

As you assess your monthly budget, you need to remove all the things that you are too expensive. You can use your budget to remove things that you no longer use, and you can trim some expenses that you think are too high. This is why you need to continually check your budget. People who are familiar with their budget can begin to make wise decisions. You might decide you no longer need your gym membership, or you might drop your cable plan for streaming services. Everything you do to save money will be reflected when you have extra money at the end of the month.  


When you are investing your money, you can grow your savings so that you have money in case you need it. Most people who would like to invest should hire a broker who will help them. The broker will give you all the advice you need, and they will explain how they would plan for your future. 

You should let the broker know how much money you want to save. Plus, you should ask the broker if they have any special savings accounts you might use. You could use the investments that you make to pull out cash during the year, or you can plan for your retirement.  

Some people may want to start with a simple investment app that allows you to make more money. You can invest through the app, and you can choose the style of investment you prefer. You may have savings, investments, and extra cash in different places. However, you have different ways to pay for unexpected purchases if you like. 

Plan For An Emergency 

When you are caught facing an unexpected emergency, you may find yourself burdened with unplanned payments, like medical bill or home repairs. You may not have the savings you need to pay for these unexpected emergencies, and desperately seeking alternative options. An online loan may help you pay for these unexpected short-term emergencies, allowing you to get back on your feet and rebuild your savings over time. Account for the loan in your monthly budget, and ensure that you have found a few lenders you trust. 

Some people do not know what to do during an emergency, and that is why you need to know which lender you would use. You can work out a plan with the lender that allows you to pay back the loan with your next paycheck so that you do not delay medical care or home repairs. 


Planning, saving, and budgeting is all part of a financial plan that will keep your family safe and comfortable. Families that are using a standard budget are much more likely to have cash reserves they can use for special purchases. You could use savings accounts, apps, and investments to ensure that you have the money you need. Plus, you should work with a broker when you are saving for the future. Get a loan if you have an emergency, and account for everything in your monthly budget. 

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

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