Financial Education Resources

As the Financial Literacy Specialist at Fidelity Bank, a trusted South Louisiana bank, one of the most common questions I hear is:

“How much money should I be saving?”

My go-to answer is simple: Start with at least $1,000 in savings that you can access quickly for unexpected expenses.

It sounds straightforward, but here’s a surprising fact — according to a Bankrate survey, only 46% of Americans have enough savings to cover three months of expenses.

That emergency savings goal may feel like a mountain to climb, but once you break it into smaller, bite-sized steps, it becomes much more manageable.

Start Small, Build Consistency

Instead of thinking about saving for three months of expenses all at once, calculate how much you’d need for just one month. Then, figure out how much you can set aside from each paycheck.

If your savings aren’t growing as quickly as you’d like, ask yourself:

• Are you making automatic savings transfers into your account on payday?
• Or are you waiting until you “have time” to move the money?

If saving money depends on memory, it often won’t happen. Setting up automatic deposits makes saving effortless — and removes the temptation to spend it first.

Remember: If you get paid regularly, your savings account should, too. Fidelity Bank makes it easy with our Spare Change for Good program, which rounds up your debit card purchases and deposits the change into your savings. Don’t have a savings account yet? Open one online today.

Rethink Your Spending

Here in South Louisiana, life is full of crawfish boils, festivals, and dinner outings — and it’s tempting to say “yes” to every invite. But if you’re living paycheck to paycheck, saying “no” to just one or two events a month can free up real savings.

Pro tip: Before you RSVP, add up the total cost (tickets, food, gas, drinks). Could that money bring you closer to your emergency fund goal? Sometimes seeing the numbers is all it takes to make a smarter choice.

Cut the Extras You Don’t Miss

Even small daily habits can quietly drain your budget:

• Extra coffee runs before work
• Dining out multiple times a week
• Streaming services or subscriptions you no longer use

Check your bank statements regularly. You might be paying for things you thought you canceled — or never even realized were active.

Earn More with Your Talents

Side hustle ideas aren’t just for college students — they’re for anyone with a skill or hobby:

• Sell handmade crafts at local markets
• Offer event styling or décor services
• Take on writing, editing, or calligraphy projects
• Sell unused items (declutter + profit = win-win)

Even a small extra income stream can speed up your emergency savings progress — and you’ll be doing something you enjoy.

Avoid Adding New Debt

The more debt you carry, the less you can save. If you have balances, try:

• Snowball Method – Pay off your smallest debts first for quick wins
• Avalanche Method – Pay off the highest interest rates first to save money long-term

Use our Debt Payoff Calculator to create a plan that works for you.

Be the CFO of Your Household

Think of yourself as the Chief Financial Officer of your family. Keep track of due dates, organize your bills, and monitor your accounts regularly. A little time spent managing your money now can prevent costly mistakes later.

The Bottom Line

Saving money is like boiling crawfish — it takes patience, attention, and the right recipe. Start with $1,000, keep adding little by little, and soon you’ll have a three-month emergency cushion to protect you from life’s curveballs.

At Fidelity Bank, your community bank for financial literacy in Louisiana, we’re here to help. Whether you want to set up automatic savings transfers, open a high-yield savings account, or talk through a personalized savings strategy, we’ve got your back.