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What the economy to thanks and the market downs as you know there are time now that to start build up your savings. I will tell you how to do that and where the safely store you cash coming from this episode to keeping a finance. Potential experts have always said as important to keep about six months on saving on hand incase of emergency. But between loan obligations, losing our job and other expenses is six months is still really enough? As important I think on our savings account not in terms in number of months can carry over but in terms of the regular place to contribute your money and he best place to get that money is from our paycheck but deducting five as much as money your paycheck every month and putting it directly into the savings account. If you have and already ask your employer to direct deposit your paycheck into your checking account then asks your bank to swift that money into a savings account immediately afterwards. It is an easy process to set up on a reoccurring basis so you can set it and forget it. Now, remember five to ten percent as only a guideline, you’ve got to find the number your comfortable with so, for example let’s say $150.00 a month or $75.00 per paycheck. Now, let’s take a look at how that’s small monthly contribution turns out three years from now. If you contribute a $150.00, a month for two years and the interest rate is 3% you will have $5,163.97 at the end of 24 months. More than enough to cover yourself for a few months if was a sudden of change in your life. So, that’s question might be asking you is where I put my money a long so it’s safe. Well I like CD’s or certificates of deposits they are I think insured of up $250.00 until December 2009 where you might reverse back to a $100,000.00 for protection and they earn a relatively high amount of interests in just leaving your money into a savings account. Now, remember CD’s, lock in your money in for certain term. If you take your money out during that term, you will loss the interest you earn in that period. I explain more about CD’s in the future episode. I’d recommend looking at online banks and credit unions for CD’s and savings account. They typically pay a high rate of interest with lower opening balance requirements and are typically easy to deal with all be at by telephone or email only. The most important thing is you continue to regularly contributes to your savings account, if you get that Christmas Bonus take half of it and put in the savings account and take the other half and spend it. If you did, any go out to that movie that you really wanted to see, put that money in your savings account because every little bit helps. For more information on resources on saving accounts in CD’s on how to save, visit my website at 2minutefinance.com in San Francisco go over looking the bay bridge. I’m Bobby Lee for two Minute Finance.