$400. That’s what it would take to sink 40% of American households if an unexpected expense came up, according to recent data released by the Federal Reserve.

Here’s an easy tip to grow your savings for a rainy day:

When you’re setting up automatic payments from your checking account each month, set up one to yourself. With each payment you make to your savings account, you’ll be that much closer to building your rainy day fund, should you find yourself with an unexpected expense someday.

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