(WWLP) – If the last couple of months have taught us one thing about managing money is that setting some savings aside is imperative.

Research shows that at least 45 percent of Americans have less than $1,000 saved and in an emergency situation, $1,000 may not be sufficient due to rising costs from inflation. Financial advisors say the standard rule of thumb is to save at least 20 percent of your earnings from every paycheck.

If you can’t afford to save 20 percent of every paycheck, starting with any amount is better than nothing.