PROVIDENCE – The Consumer Financial Protection Bureau is highlighting a host of tools it provides for individuals and families to save for emergencies and the future.
The federal agency last week published a blog detailing all the ways people can save for unexpected expenses.
“If your car broke down or you had an unexpected trip to the hospital, would you be able to cover the costs?” the authors wrote.
Unfortunately, Rhode Islanders – especially in Providence – are not well-positioned for unexpected expenses.
A Providence Business News report last year shows nearly half of all Providence households, 233,929, have no money set aside for emergencies, marking the highest rate of any major metro area in New England.
The CFPB provides free worksheets for savings, information about direct deposits and tax-time savings tips. The agency also has resources for children to learn about savings and for adults to learn about how to save for retirement.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
