Your life is good.[cite::219::cite] In fact, it’s going great. But then something happens that you didn't foresee. You get a flat tire and need a new one. You trip and fall and need to go to the doctor. You lock yourself out of your apartment or home and have to call a locksmith. If you’re not financially prepared for unforeseen expenses, it can make a small problem into a major one.
Fortunately, the OnCard from National Bank of Arizona can help you set a budget, create an emergency fund, and be ready when something goes wrong.
They're Called "Accidents" for a Reason
Let’s face it. Accidents happen. 685 people in the United States get into a car accident every hour; that adds up to 6 million collisions every year. Even if you’ve got good insurance, there still may be costs you will have to pay out of pocket. And accidents are just limited to the road. 2.8 million people are injured on the job every year. What's more, 2.2 million people hurt themselves in bathroom injuries
They are called accidents because they are unpredictable and unforeseen. While you can’t plan what will happen to you or when they might happen, you can prepare for when they do happen.
You Can Never Be Too Prepared
It’s important to create a spending plan for your money. Budgeting forces you to think about your short-term and long-term goals. Setting a budget and sticking to it ensures you will have the money you need for things that are important to you. This means having enough money set aside to pay your rent or house payment, the electric bill, and put food on the table. It also means you will be prepared for life's inevitable accidents.
One accident can derail your dreams pretty easily if you are not prepared. Failing to budget for emergencies can create a real hardship when things go wrong. An emergency fund is for more than just accidents. When you lose your job, have a death in the family, or have to travel unexpectedly to visit a sick relative, it can lead to financial turmoil.
Creating an Emergency Fund
Experts recommend building an emergency fund of three to six months’ worth of living expenses. This can help you avoid going deep into debt when there is a crisis. Putting some of your paycheck away as part of your monthly budget can help you build up a fund for when you really need it.
The OnCard from National Bank of Arizona is a reloadable, prepaid debit card that will help you manage your finances and track household spending. What's more, the app that comes with the OnCard can make learning to budget for emergencies easier.
Keeping The Whole Family Safe
The OnCard from NB|AZ creates an on-demand emergency fund for your entire family. Up to six cardholders can send and receive money and it gives families a way to easily transfer money no matter where they live.
If one of your family members is on vacation and runs into trouble, it’s easy to send money to their card. The same goes for a stranded child or out-of-town college or prep school students that need money right away. They will be able to spend up to the limit of the card. In an emergency, you can make sure they have enough money to handle the crisis.
It Teaches You How Save
Managing a budget and saving for the lifestyle you want has never been easier. Using the first month’s spending, OnCard helps you establish a realistic budget. You can adjust your budget as needed and watch spending trends on a month-by-month basis.
With just a little discipline, OnCard can help you become a smart saver. If other family members have cards, you can lock and unlock cards to prevent unauthorized spending as well as view activity for each cardholder.
Let OnCard From NB|AZ Work For You
If you want to do a better job managing your finances, set up a budget and emergency fund, and be ready for unforeseen events. The OnCard from the National Bank of Arizona can be a key tool in helping you prepare. Learn more about OnCard or visit our website to open an account.