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Primerica On Savings Accounts: Why You Need Them, How to Keep Them

From PRIMERICA



Opening a savings account is different from maintaining one. Primerica recognizes that you face various everyday challenges that can keep you from committing to your savings in order to fulfill immediate financial obligations. This practice is already the first step to jeopardizing your long-term financial security. Familiarizing yourself with savings accounts can help you get started at developing and maintaining a savings program.


From Primerica: Freedom Lives Here



Three basic yet essential accounts you must possess are: an emergency fund, a short-term savings, and a
long-term savings or investment.


Emergency fund. Before committing to any other type of savings, prioritize establishing an emergency fund. This will provide you with the necessary finances when unforeseen events or expenses arise.



Short-term savings. Instead of resorting to credit cards, Primerica suggests setting aside money for luxury expenses through a short-term savings account. In this manner, you would only utilize money you actually have in your account to make big purchases like a brand new car or a dream vacation.



Long-term savings and investment. Your long-term savings will provide the finances for your retirement savings, college fund, and future expenses that require a longer timeframe to fulfill. Besides dedicating an account for this type of savings, you can take advantage of a wide variety of long-range vehicles such as investments.



Learn more about how you can achieve financial security and freedom at www.primerica.com.


From Primerica: Freedom Lives Here
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