CHICAGO (WLS) -- Here's a quick "emergency savings" tip that may be troubling.
An eye-opening new study shows many Americans are just one emergency away from financial trouble. A new WalletHub survey reveals that two in three Americans say persistent inflation and the affordability crisis are shrinking their emergency savings, and nearly one in five say they couldn't come up with $1,000 in cash within 24 hours.
You should automate your savings. Even small amounts each paycheck can add up fast when it's consistent and out of sight.
Second, cut one expense and redirect it to savings. Whether it's takeout or subscriptions, shifting just $20 to $50 a week can build a cushion.