Benjamin Franklin is purported to have espoused that eternal wisdom. A true American hero with a phrase that, quite frankly, seems un-American in this day and age. Today, we are not urged by our leaders to save money. They say we should spend money and spur economic growth. And if you are not spending you should be investing money, to again spur economic growth. But, saving? Not really part of the program.

Emergency Savings Plans for Hard Times
Financial advisors have just recently embraced the idea of an emergency savings account. That is, setting aside enough cash to cover six months of expenses in the unfortunate event of a job loss, health situation, or other family emergency. A year or two ago having an idle emergency savings account to cover life's unexpected surprises was not commonplace. Now we know better. 9% of the American workforce is unemployed. This number is a dramatic understatement of those actuallu under-employed because it only counts those filing for state unemployment benefits. The actual number of Americans hit by lost or lower wages is staggering. That's where the emergency savings accounts applies. Families that have saved up so money for necessary expense like the mortgage, utilities, and credit card payments can preserve their credit rating even when hard times hit. Recessions don't last forever, but the consequences can be steep if a family is not prepared.

The Savings Plan
As Franklin said those saved pennies can add up. Cutting expenses is great, but sometimes it takes more. For instance, how many people carefully read your bank statement. You might see a few bank fees and just assume that is how it is. Don't be complacent. ATM fees, wires fees, and service fees can all be rebated if you put up a fight for your rights. In addition, banks sometimes make honest mistakes. Start checking that monthly statement carefully.

Everybody could use a little extra in their savings accounts. A trip or phone call to the bank to questions your fees can sometimes do the trick. Banks do not want to lose your business. So if you see something that you think is unfair, fight it. Benjamin Franklin would be proud.