# Article written for Saco & Biddeford Savings blog

Life is unpredictable. A sudden car repair, an unexpected medical bill, or even a job loss can create financial stress if you’re not prepared. That’s where an emergency fund comes in. It’s your financial safety net, helping you cover unexpected expenses without relying on credit cards or loans.

If you don’t have an emergency fund yet, don’t worry! Getting started is easier than you might think and this guide will walk you through why an emergency fund matters, how much you should save, and the best ways to build one.

Why an Emergency Fund is Essential

An emergency fund gives you peace-of-mind and financial security when life throws you a curveball. Even a small emergency fund can make a big difference. For example, an emergency fund:

• Prevents Debt: Without savings, many people turn to credit cards or loans in emergencies, leading to high-interest debt. While credit cards and loans can be great solutions for other needs, they're not the best option for emergency expenses.
• Provides Stability: Whether it’s a medical issue, a home repair, or a job loss, having savings gives you time to recover without the need to panic about finances.
• Gives You Control: When you have money set aside, you don’t have to rely on others for financial help.

How Much Should You Save?

The amount you need depends on your financial situation, but here’s a simple breakdown:

• $500–$1,000: This is a great starting point for handling minor emergencies like car repairs or medical co-pays.
• One Month of Expenses: Helps cover rent, groceries, and utilities if your income is interrupted.
• Three to Six Months of Expenses: The ideal amount to cover larger setbacks, such as a job loss or medical leave.

If your income is unpredictable or you have dependents, you may want to save even more. The key is to start small and build over time.

How to Build Your Emergency Fund

1. Open a Dedicated Savings Account: Keeping your emergency fund separate from your everyday spending money makes it less tempting to use. Saco & Biddeford Savings offers [Savings Accounts] that are FDIC-insured and designed for secure savings. If you want to earn a little more interest, a [Money Market Account] could be a great option while still allowing easy access to your funds.
2. ‍Set a Savings Goal: Decide on your initial goal, whether it’s $500 or one month of expenses. Breaking it down into smaller milestones makes it feel more achievable.
3. ‍Automate Your Savings: Setting up automatic transfers from your checking to your savings account ensures you consistently build your fund without having to think about it. With [Online and Mobile Banking], you can easily schedule transfers to grow your emergency fund little by little. Even $25 per paycheck adds up over time.
4. ‍Find Ways to Save More: Look for small ways to cut expenses and redirect that money to your emergency fund. You can start by brewing coffee at home instead of buying it at a coffee shop or cancel any unused subscriptions or memberships. Every little bit helps, and small changes add up faster than you think!
5. ‍Use Unexpected Money Wisely: Whenever you receive a tax refund, bonus, or gift, consider putting some of it into your emergency fund. These lump sums can help you reach your savings goal much faster.
6. ‍Keep It for Emergencies Only: It’s important to use this money only for true emergencies, like medical expenses, car repairs, or a sudden loss of income. If you do need to dip into your fund, make a plan to rebuild it as soon as possible.

Where to Keep Your Emergency Fund

The best place for your emergency fund is in an account that’s easy to access but not too easy to spend.

Good options include:

• [Savings Accounts]: Ideal for short-term emergency savings.
• [Money Market Accounts]: Offer more interest while keeping your money available when you need it.

Avoid keeping emergency funds in:

• Stocks or Investments: These can lose value at the wrong time.
• Cash at Home: Keeping some cash on hand is fine, but a bank account is safer and more secure.

Start Saving Today

Building an emergency fund takes time, but the sooner you start, the better prepared you’ll be for life’s surprises. Open a [savings account] today and take the first step toward a stronger financial future.

# Article written for Saco & Biddeford Savings blog

A gentle approach to financial caregiving.

As our parents, grandparents, or older loved ones grow older, many of us find ourselves stepping in to help them navigate their finances. It’s not always an easy conversation, but it’s an important one. By taking a thoughtful and compassionate approach, you can help ensure their comfort, independence, and peace of mind.

Here are a few simple steps to guide you through those conversations:

Start with a Heart-to-Heart

Before talking numbers, talk feelings. Sit down in a relaxed setting, maybe over coffee, and let them know your concerns come from a place of care. Explain that your goal is to support them, not take over. When everyone’s on the same page, it’s easier to move forward together.

Get Organized

Help your loved one gather important documents like:

• Bank and retirement account statements
• Insurance policies
• Mortgage or rental agreements
• Monthly bills
• Legal paperwork (like a will or power of attorney)

Keeping everything in one place (a folder, binder, or secure digital file) helps make decisions quicker and more informed.

Simplify the Process Where You Can

Many older adults have multiple accounts or subscriptions they no longer need. Take time to review:

• How many bank or investment accounts they have
• What recurring services they’re paying for
• Whether any accounts can be combined or closed

Simplifying their finances can reduce confusion, and stress.

Set Up Auto-Pay

Late fees and missed payments can happen more easily with age. Setting up automatic payments through [Bill Pay] for utilities, credit cards, or insurance premiums helps ensure bills are paid on time and saves a trip to the branch.

Watch for Scams

Sadly, financial fraud targeting older adults is more common than ever. Remind your loved ones to:

• Never share account info or Social Security numbers with anyone (including individuals that claim to be from SBSI) over the phone
• Be cautious about unfamiliar calls, emails, or messages
• Review bank statements regularly for unfamiliar charges

If something doesn’t feel right, it’s always okay to hit pause and [ask for help].

Plan for the Road Ahead

It can be tough to talk about long-term care or what might happen “someday.” But having a plan now makes things easier later. Consider:

• What kind of care they’d want if their health changes
• Whether [long-term care insurance] makes sense
• Who they trust to make decisions if they can’t

A [financial planner] or elder law attorney can help walk through these questions.

Keep Trusted Family Members in the Loop

If multiple family members are involved, clear communication can prevent confusion and conflict. Share updates, divide responsibilities, and work together with your loved one at the center of every decision.

Helping an aging loved one manage their finances isn’t just about money. It’s about preserving their dignity, honoring their wishes, and walking alongside them with patience and love. Remember, you don’t have to do it alone. [Saco & Biddeford Savings] and our partners at [Paquin & Caroll Insurance], and [S&B Financial Services] are all able to help you through this process.

‍# Article written to showcase potential long-form writing for Lighthouse Credit Union blog

Managing money can feel overwhelming, but a budget makes it simple. A budget helps you see where your money is going so you can spend wisely, save more, and stress less. The best part? You don’t need complicated tools or advanced math, just a plan that works for you.

Step 1: Know Your Income

Start with the money you bring in each month. This includes your paycheck, side jobs, or any other regular income. Write down your total amount, this is what you have to work with. If you combine your income with someone else like a spouse or partner, add theirs in too.

Step 2: Track Your Spending

Before you can plan, you need to know where your money is going. Look at the last month of expenses and sort them into two groups, needs & wants. Taking a look at your [Online Banking] and [Mobile Banking] can help make this step a lot easier.

• Needs: Rent or mortgage, food, utilities, transportation, insurance, and debt payments.
• Wants: Dining out, entertainment, shopping, subscriptions, and extras.

Many people are surprised by how much they spend on things they don’t really need. A budget helps you take control of those choices.

Step 3: Create a Plan

Now, divide your money in a way that works for you. A good starting point is the 50/30/20 rule:

• 50% for needs: The essentials
• 30% for wants: The fun stuff
• 20% for savings & debt: Your future self will thank you

If money feels tight, adjust where you need to. Remember, this is your budget, so it can (and should) be customized to your needs.

Step 4: Make It Easy

You don’t have to track every penny by hand. Use a simple budgeting app or set up automatic payments and savings transfers through [Online Banking] or [Mobile Banking] so your budget runs in the background!

Step 5: Adjust as You Go

Life changes, and so should your budget. Check in each month to see what’s working and what needs tweaking. The goal isn’t perfection, it’s progress.

Start Today

A budget isn’t about restrictions, it’s about freedom. When you know where your money is going, you can make better choices, build a safety net, and move toward your goals with confidence.

Need help getting started? We’re here for you. Visit one of our [locations] and we can help you build a stronger financial future, together.

We believe in people.
People who want to do more, give more, build more, and make an impact.

Because when money moves with purpose, it creates change.
When success is shared, everyone rises.

You’re not just a member, you’re a catalyst.
Every dollar you save, borrow, or spend fuels something bigger.
A stronger foundation, a brighter future.

For over 80 years, we’ve been more than a credit union.
We are a movement of members driving change,
for you, for all, for good.

Do more with your money. Build more for your future.
Together, we will light the way.