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How to build an emergency fund

NNPA NEWSWIRE — Setting aside hundreds or thousands of dollars for an emergency – and not using it – can seem like a challenge when you have bills and other responsibilities. But building an emergency fund can be done in phases over time, and you can make small changes now to get start growing your fund. Every dollar you save now can help cushion when the next emergency happens.

Published

6 years ago

November 8, 2019

Oakland Post

Have you received a tax refund, gift, bonus, or raise recently? Consider putting that extra cash into your savings account. Remember – keeping it out of reach of your checking account means it’s harder to spend and there’s a higher chance of saving it.

Why an emergency fund is worth it — and how to start growing yours.

The Federal Reserve Board reported recently that 40% of people in the U.S. said they would have trouble covering a $400 emergency. Now think back to the last time you had an emergency or unexpected expense. Maybe it was a car repair or medical bill or even paying all your bills until you found a new job. Were you confident you had enough money to cover it?

Setting aside hundreds or thousands of dollars for an emergency – and not using it – can seem like a challenge when you have bills and other responsibilities. But building an emergency fund can be done in phases over time, and you can make small changes now to get start growing your fund. Every dollar you save now can help cushion when the next emergency happens.

Open and set up automatic deposits to a savings account.

First come up with an amount you can afford to save and put toward an emergency fund every month. Consider saving this money in a separate account to help you stay focused on building those savings and avoid spending it. Automatic deposits can make saving easy. For help figuring out what to pay first, check out resources from the Hands on Banking® financial education program.

Reduce your spending.

If you need to change your spending so you have enough money to put aside, start by reviewing your expenses – large and small. For example, the total cost of dining out may be larger than you think. With the average household spending $3,365 a year on eating out, cutting just two meals out a month (meals on average cost $12), saves around $288 a year.¹ Another quick way to cut spending is to cancel any memberships and subscriptions you use infrequently or don’t need. Reviewing and cutting your expenses doesn’t have to be a sacrifice, but rather a chance to adjust your spending and saving in line with your priorities.

Find ways to make extra cash.

There may be opportunities for easy income in your garage, closet, or old storage areas: consider selling old – and unwanted – stuff for a quick stack of cash that you can put in your emergency fund savings account. Online auction sites and marketplaces can help sell your stuff or just use the traditional yard sale. Other work opportunities, whether extra hours or one-off projects, can help bring in extra money to build your emergency fund plus support other financial goals.

Save “extra” money.

Create a savings challenge

You might have started with a smaller savings goal so your fund could grow little by little. Challenge yourself to make a bigger deposit like $50 next month instead of the $25 you deposit on a monthly basis. Then make the same goal again in a few months or even increase it a little. Any amount you contribute is a step in the right direction.

By their nature, emergencies happen when you don’t expect them, but planning for them just in case can help you handle them. That’s why an emergency fund is there. If you do have to tap into your emergency savings, that’s what it’s for, but get back on track by committing to building it right back up.

https://www.bls.gov/news.release/pdf/cesan.pdf

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#NNPA BlackPress

Black Feminist Movement Mobilizes in Response to National Threats

BLACKPRESSUSA NEWSWIRE — More than 500 Black feminists will convene in New Orleans from June 5 through 7 for what organizers are calling the largest Black feminist gathering in the United States.

Published

4 days ago

May 30, 2025

Stacy M. Brown

By Stacy M. Brown
Black Press USA Senior National Correspondent

More than 500 Black feminists will convene in New Orleans from June 5 through 7 for what organizers are calling the largest Black feminist gathering in the United States. The event, led by the organization Black Feminist Future, is headlined by activist and scholar Angela Y. Davis. Paris Hatcher, executive director of Black Feminist Future, joined Black Press USA’s Let It Be Known to outline the mission and urgency behind the gathering, titled “Get Free.” “This is not just a conference to dress up and have a good time,” Hatcher said. “We’re building power to address the conditions that are putting our lives at risk—whether that’s policing, reproductive injustice, or economic inequality.” Hatcher pointed to issues such as rising evictions among Black families, the rollback of bodily autonomy laws, and the high cost of living as key drivers of the event’s agenda. “Our communities are facing premature death,” she said.

Workshops and plenaries will focus on direct action, policy advocacy, and practical organizing skills. Attendees will participate in training sessions that include how to resist evictions, organize around immigration enforcement, and disrupt systemic policies contributing to poverty and incarceration. “This is about fighting back,” Hatcher said. “We’re not conceding anything.” Hatcher addressed the persistent misconceptions about Black feminism, including the idea that it is a movement against men or families. “Black feminism is not a rejection of men,” she said. “It’s a rejection of patriarchy. Black men must be part of this struggle because patriarchy harms them too.” She also responded to claims that organizing around Black women’s issues weakens broader coalitions. “We don’t live single-issue lives,” Hatcher said. “Our blueprint is one that lifts all Black people.”

The conference will not be streamed virtually, but recaps and updates will be posted daily on Black Feminist Future’s YouTube channel and Instagram account. The event includes performances by Tank and the Bangas and honors longtime activists including Billy Avery, Erica Huggins, and Alexis Pauline Gumbs. When asked how Black feminism helps families, Hatcher said the real threat to family stability is systemic oppression. “If we want to talk about strong Black families, we have to talk about mass incarceration, the income gap, and the systems that tear our families apart,” Hatcher said. “Black feminism gives us the tools to build and sustain healthy families—not just survive but thrive.”

Stacy M. Brown

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#NNPA BlackPress

Hoover’s Commutation Divides Chicago as State Sentence Remains

BLACKPRESSUSA NEWSWIRE — Hoover was convicted of murder and running a criminal enterprise. Although some supporters describe him as a political prisoner, the legal and public safety concerns associated with his name remain substantial.

Published

5 days ago

May 29, 2025

Stacy M. Brown

By Stacy M. Brown
Black Press USA Senior National Correspondent

The federal sentence for Gangster Disciples founder Larry Hoover has been commuted, but he remains incarcerated under a 200-year state sentence in Illinois. The decision by Donald Trump to reduce Hoover’s federal time has reignited longstanding debates over his legacy and whether rehabilitation or continued punishment is warranted. The commutation drew immediate public attention after music executive Jay Prince and artist Chance the Rapper publicly praised Trump’s decision. “I’m glad that Larry Hoover is home,” said Chance the Rapper. “He was a political prisoner set up by the federal government. He created Chicago Votes, mobilized our people, and was targeted for that.”

But Hoover, the founder of the Gangster Disciples, is not home—not yet. Now in federal custody at the Florence Supermax in Colorado, Hoover was convicted of murder and running a criminal enterprise. Although some supporters describe him as a political prisoner, the legal and public safety concerns associated with his name remain substantial. “There is a divide in the Black community here,” said Chicago journalist Jason Palmer during an appearance on the Let It Be Known morning program. “Some view Hoover as someone who brought structure and leadership. Others remember the violence that came with his organization.” Palmer explained that while Hoover’s gang originally formed for protection, it grew into a criminal network responsible for extensive harm in Chicago. He also noted that Hoover continued to run his organization from state prison using coded messages passed through visitors, prompting his transfer to federal custody.

Illinois Gov. J.B. Pritzker, who is widely considered a potential 2028 presidential contender, has not issued a statement. Palmer suggested that silence is strategic. “Releasing Hoover would create enormous political consequences,” Palmer said. “The governor’s in a difficult spot—he either resists pressure from supporters or risks national backlash if he acts.” According to Palmer, Hoover’s federal commutation does not make him a free man. “The federal sentence may be commuted, but he still has a 200-year state sentence,” he said. “And Illinois officials have already made it clear they don’t want to house him in state facilities again. They prefer he remains in federal custody, just somewhere outside of Colorado.”

Palmer also raised concerns about what Hoover’s case could signal for others. “When R. Kelly was convicted federally, state prosecutors in Illinois and Minnesota dropped their charges. If a president can commute federal sentences based on public pressure or celebrity support, others like R. Kelly or Sean Combs could be next,” Palmer said. “Meanwhile, there are thousands of incarcerated people without fame or access to public platforms who will never get that consideration.” “There are people who are not here today because of the violence connected to these organizations,” Palmer said. “That has to be part of this conversation.”

Stacy M. Brown

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#NNPA BlackPress

WATCH: Five Years After George Floyd: Full Panel Discussion | Tracey’s Keepin’ It Real | Live Podcast Event

Join us as we return to the city where it happened and speak with a voice from the heart of the community – Tracey Williams-Dillard, CEO/Publisher of the Minnesota Spokesman-Recorder.

Published

6 days ago

May 28, 2025

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https://youtube.com/watch?v=OsNLWTz6jU0&feature=oembed

May 25, 2020. The world stopped and watched as a life was taken.

But what has happened since?

Join us as we return to the city where it happened and speak with a voice from the heart of the community – Tracey Williams-Dillard, CEO/Publisher of the Minnesota Spokesman-Recorder.

She shares reflections, insights, and the story of a community forever changed. What has a year truly meant, and where do we go from here?

This is more than just a date; it’s a moment in history. See what one leader in the Black press has to say about it.

Recorded live at UROC in Minneapolis, this powerful discussion features:

Panelists: