Being prepared for the unexpected – ensuring you’ve done what you can to protect yourself and the ones you love – is a good feeling. Many people at some time in life find they need to dip into savings during a rough patch, so make an effort to open an emergency savings account and try to make deposits on a regular basis.

It is a good idea to work toward an emergency fund equal to 3 to 6 months of living expenses. But anything you can put away is better than being unprepared. Saving up emergency cash can be easier if your financial institution has an automatic payroll savings plan. These plans automatically transfer a designated amount of your salary each pay period – before you see your paycheck – directly into your account.

Financial security basics

• Get a head start

• Set a budget and stick to it

• Manage your debt

• Set aside an emergency fund

• Invest for retirement

• Diversify your portfolio

• Plan for your children's education

• Protect yourself and your loved ones

• Reassess your situation as your life changes