There is no doubt having emergency fund is necessary for each individual. However, even people have realized the importance of having an emergency fund in their account, they still do not know where to start saving.

In fact, start saving early is the key for getting enough emergency fund in your account. Since you have enough money in your account, you are more likely to build a cushion which could help you to get through the time when unexpected things happen.

For saving for an emergency fund, you may want to calculate your living expense and determine your saving target (commonly equals to at least 3 month of your regular spending). Also, you may consider saving your tax refund as your emergency fund as well. Since most people consider their tax refund as some “extra money” they receive every year, instead of spending it, you could contribute it to your emergency fund account.

If you find saving by yourself for an emergency fund is difficult, there are saving plans which offered by major employers. There are several programs which introduced by employers to help employees on their emergency savings. Now, let us look at some of such emergency saving plans.

-Levi Strauss matching fund

Levi’s offers their employees up to $240 in matching funds when they have reached the saving target. If the employee has made qualifying contributions over six months, the Red Tab Foundation would give him $20 bonus with a $500 savings account.

–SunTrust momentum program

The SunTrust bank offer employees with $1,000 if they have met the requirement of completing an eight-part financial education program. This program covers financial topics such as investing, budgeting, insurance, and etc. At the meantime, they need of open an account especially for emergency savings.

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