Major home issue Appliances break, and natural disasters can damage your home, leading to costly repairs and replacements.
Travel emergency Rushing out of town for an emergency can mean expensive transportation and lodging costs.
1 Be prepared When it comes to emergencies, it’s not “if,” it’s “when.” Building emergency savings takes time, so get started early, be realistic about how much you can save at the beginning, and add to your monthly contribution when you can.
2 Maximize your earning potential Open a CIT Bank Money Market Account. With a rate that’s more than 12 times higher than that of a traditional bank, your emergency savings will grow faster.5 You also get the benefit of daily compounding interest.
3 Automate your savings Set up automatic weekly, bi-weekly or monthly deposits so that your emergency savings account continues to grow. Be committed to reaching your goal.
Calculator Use our calculator to determine how much you'll need in your emergency savings and how you can begin saving toward this important goal.
