Emergency Savings Fund Could End Up Saving You Money
STATEN ISLAND, NY.Y -- It may not be easy to create, especially in tough economic times, but having an emergency fund could save you money.
An emergency fund is money set aside for unplanned expenses.
According to the New York City Department of Consumer Affairs, you should save what amounts to three to six months of your income.
During emergencies, such as job loss, health problems, natural disasters – or even a costly auto repair – digging into your emergency savings fund is better than taking out a high-interest loan that can lead to debt problems.
For advice on establishing an emergency savings fund, visit any one of Victory State Bank’s five convenient branches.
About Victory State Bank:
VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com .
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