Emergency Savings
An emergency fund is a financial safety net that helps you cover unexpected expenses such as medical bills, car repairs, or job loss. Having a solid emergency savings plan can prevent financial setbacks and provide peace of mind in uncertain times. It is recommended to save at least three to six months’ worth of expenses, but it’s important to adjust these savings based on your expected living expenses.
At FinPath, we empower you to build a strong financial safety net, ensuring you’re prepared for life’s unexpected moments with confidence and ease.
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How do I start building an emergency fund if I’m living paycheck to paycheck?
Start small by setting aside a manageable amount each month, even if it’s just $10 or $20. Look for areas in your budget where you can cut back, such as dining out or subscriptions, and redirect those funds to savings. Additionally, consider automating your savings to make it easier to stay consistent.
Where should I keep my emergency savings?
A high-yield savings account is a great option because it offers easy access to funds while earning some interest.
Why FinPath Coaching?
Frequently Asked Questions
Am I eligible for FinPath?
FinPath is an employer-paid financial wellness benefit, provided at no cost to you. You will receive information via your employer and FinPath communications about our program and how you can take advantage of financial coaching and financial tools.
How do I register?
You can register for your account at www.finpathwellness.com. Click Register and enter your designated work email to initiate the process.
What if I don't get a registration email?
Can my employer see my information?
What does a Financial Coach do?
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Retirement Planning
Milestone Planning
Emergency Savings
Student Loans
Credit Scores
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Open Enrollment
Creating a Budget
Medical & Healthcare
Insurance
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Taxes
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