BFFS Financial
BFFS Financial
Financial Services

Short-Term Financial Planning


Determining an investments horizon

The short-term horizon refers to investments that are expected to last for fewer than five years. Low risk and high liquidity.

Setting up Your Goals

Emergency Fund, Payments toward rent, insurance or student loans, Credit card debt payments, Personal goods, Minor repairs and home improvements

Executing Your Goals

To accomplish you short-term goals you need short-term investment vehicles, such as a CDs(Certificate of Deposed), Money market accounts and High-Yield Savings or Checking accounts.

Why you need and Emergency Fund? 

        Picture this: you’re chugging right along making all the right moves to achieve your financial goals then… BAM! Something happens     (A car accident? A flat tire ? A root canal ? List can go on) and you must come up with some cash to deal with it. You need emergency savings to handle unexpected situations and expenses. Otherwise, a little problem can turn into a big setback. Now, if that amount makes you scream and toss your computer across the room (don’t do that), you can always start with this approach: add up the amount of all your insurance deductibles (medical, car, renters/homeowners) and set that as your baseline for your emergency savings account. 
       Having the money to cover your deductibles means that, in the event of a serious emergency like a car accident or injury, you can cover the deductible without going into debt. You can start by building an emergency fund of $500. Then, you can add to it to give yourself six months of cushion if needed. Answer a few questions and we'll give you your optimal fund size, as well as more resources to help you save. 

Go to “Solutions”  to download the App and calculate how much your Emergency Fund should be.