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Experts agree that one of the first savings goals that households can shoot for is the accumulation of an "emergency fund" equal to 2-3 months of income. This fund provides needed cash to buy groceries, pay insurance, and otherwise maintain a family's standard of living in the face of short-term loss of income or additional expenses.
Helping your child understand that things don't always go as we had planned can be the first step toward a lifetime of wise saving.
Try this Wise Pockets Parenting Activity:
Catch a Falling Star or Saving for a Rainy Day |
