“Saving that first $1,000 for an emergency fund is your first goal,” said Megan Kelly, financial advisor and communications director at GoodCheddar. “One of the smartest financial moves you can do (if you haven’t already) is to create an emergency fund for when you need it.”
“Unexpected expenses are hard to plan for, and when you don’t have a savings or emergency fund, it can be necessary to sell items of value for quick cash,” said Megan Kelly, financial advisor and the communications director at GoodCheddar. “A visit to the pawn shop with anything of value like electronics, jewelry, or other items may help.”
There might not be an exact dollar amount you’re guaranteed to save, but studies have shown that paying with credit cards is considered a less “painful” transaction, according to Megan Kelly, financial advisor and communications director at GoodCheddar.