The Best Defense is a Good Offense

Be proactive with your money instead of reactive. In addition to having emergency savings in the bank, cover yourself by having insurance, being vigilant for identity theft, and checking your credit report.

Be Prepared for a Rainy Day

An emergency fund in a savings account is your “insurance” against using credit or debt in the event of a short-term emergency. This fund is for emergencies such as unforeseen car repair, replacing lost or stolen items not covered by insurance, or having to take an emergency trip home. In college, aim to have at least $500 in a savings account or money market account at the bank. After college consider upping the amount you have in liquid savings to cover at least three to six months of cost of living expenses. This money is not invested, and not kept in accounts that have a penalty if you take the money out early, as is the case with CDs or