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GOBankingRates – How Much the Average American Should Keep in Savings

In this GOBankingRates article that covers the average American savings account, Diane Bourdo, CFP®, Private Wealth Advisor at Treehouse Wealth Advisors, shares tips on saving for those in various financial situations.

Diane says that factors including income, expenses, and debt level can affect how someone saves money in their savings accounts. The article offers the general rule of thumb to put away three to six months’ worth of expenses into an emergency fund. Bourdo recommends looking closely at your finances to create a plan that best meets your needs.

Bourdo lists strengths that contribute to one’s ability to take charge of their financial circumstances, including:

  • Living within your means
  • Building savings for an emergency
  • Knowing your credit score
  • Diversifying your income and investments
  • Attaining job security
  • Getting insurance
  • Having conversations and exchanging wisdom about money with others

She advises prioritizing these financial resilience categories and taking steps to target the ones most important to you.

Treehouse Wealth Advisors is a fee-only wealth management firm based in the San Francisco Bay Area, serving innovators, legacy builders, and impact makers. The firm provides personalized financial planning, investment management, and wealth advisory services, helping clients navigate significant life changes while working toward fulfilling and meaningful lives.

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Treehouse Wealth Advisors Team

Treehouse Wealth Advisors is a women-led firm based in Walnut Creek, CA, dedicated to crafting tailored financial solutions for individuals and families. With a focus on long-term, relationship-driven approaches, we empower clients to invest their time and assets purposefully. Our team is passionate about challenging the status quo and embracing change to find better solutions.

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Garrison Point Advisors, LLC doing business as “Treehouse Wealth Advisors” (“TWA”) is an investment advisor based in Walnut Creek, CA and registered with the Securities and Exchange Commission (“SEC”). Registration of an investment advisor does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. TWA only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of TWA’s current written disclosure brochures, Form ADV Part 1 and Part 2A, filed with the SEC which discusses among other things, TWA’s business practices, services, and fees, is available through the SEC’s website at:  www.adviserinfo.sec.gov.

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