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Why you should put 10% of your income into a special account

Posted at 11:49 AM, Apr 28, 2017
and last updated 2017-04-28 11:49:29-04

When it comes to having a safety net in your savings account, there are many that claim it's nearly impossible because of unexpected expenses.

Michael Markey Jr., co-founder and owner of Legacy Financial Network, explains how people can grow their bank accounts to having a $5,000 safety net.

According to Michael Markey, just take the top 10 percent of your income check, and put it into a special account. Do not put this in a checking account or one that can be checked online constantly or one where you'll receive statements.

With the temptation gone to check the account, those savings will grow. In the end, people are surprised of how much money adds up after six months.

For more information on how you can fireproof your finances, visit www.legacyfinancialnetwork.com or call 1-855-LFNETWORK.