Posts

Student looking at computer at student loan debt
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Could Your Student Loans Be the Key to Building Your Emergency Savings?

It’s not hard to believe that people who have managed to set aside money in case of emergencies enjoy a greater sense of “financial wellbeing.”  Freedom from worrying about the “what ifs” and a sense of pride in achieving a monetary goal would make anyone feel good. In reality, however, barely half of Americans have […]

16 Reasons You Need an Emergency Fund
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16 Reasons You Need an Emergency Fund

1. Job Loss Whether you are unexpectedly laid off or fired, or you have to leave a job for personal reasons, living without a paycheck is extremely stressful. You need a stash of cash to make ends meet between jobs. 2. Hours or Salary Cut Maybe you still have a job, but your salary or […]

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New Survey Finds 42% of Wisconsinites Have Just $1,000 or Less in Savings

Originally Published in Business Wire on Sept. 20, 2017 SafetyNet survey uncovers significant gaps in Wisconsin worker’s financial preparedness MADISON, Wis.–(BUSINESS WIRE)–As Americans struggle to keep up with rising expenses, such as rent, healthcare and monthly costs of living, putting money into a savings account often times falls to the wayside. That is especially true […]

Piggy bank - How to keep your emergency fund
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Managed to Amass an Emergency Expense Fund? Congratulations! Here’s How to Keep It

If you’ve succeeded in setting aside a chunk of change to cover those inevitable-yet-unexpected “expense shocks,” congratulations! You’re doing better than most. According to the Federal Reserve Board’s Survey of Household Economics and Decision Making (SHED), barely half of Americans have an extra $400 at their disposal the event of, say, a car repair or […]

UW Professor J. Michael Collins
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Emergency Savings and Financial Well-Being: Q&A with Financial Expert J. Michael Collins

Emergency savings give people peace of mind—or what we like to call “financial well-being,” which is really defined as being subjectively OK with where you are. A big component of that is not worrying about stuff, being resilient to extra expenses, feeling in control. If you don’t feel like you can set [financial] goals and reach them, it makes you feel less financially well. That has negative side effects for people’s physical and mental health.

1040 Tax Return: What to do with your tax refund
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Wondering What to Do with That Tax Refund? Ask Yourself: “What Keeps Me Up at 3am?”

Seeing that last year’s average tax refund hovered above $2500  (though in Wisconsin it’s a little less), you may well be expecting a hefty check in the next few months. But before you start Googling “Vacations in Veracruz,” consider finding some better ways to spend your tax return. Especially if you’re among the 63% of […]

Money Saving Tips: Save $5 this month
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5 Tips to Save $5 This Month

Think saving $5 a month isn’t worth the effort? Actually, an extra $60 per year can provide you with some pretty big returns: A $60 donation to local gardens, parks, and museums can often provide your family with a membership and free admission for the year. And $60 toward your savings goal is worth more […]

Emergency funds piggy bank
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How Much Emergency Savings Do You Need? Quick: Name Your Top 5 Monthly Expenses

Think of the last time you got that unexpected bill: the $500 car repair, a heart-skipping co-pay, a downed tree from a storm. How did you manage? If you’re like 63% of Americans, you didn’t have the money in savings for this unexpected expense. It’s likely your credit card took (and might still be taking) […]