It happens, sometimes we have emergencies in our lives and they’re always unexpected. Start an emergency fund so you can be prepared for any unforeseen event that might happen. Things like getting in a car accident, losing your job, an illness, natural disaster etc. You’ll be happy you saved up even just a little bit!
Start out small and work your way up. Ideally you would want to set up a separate bank account, but you could also have a jar/envelope in your home. You can start as small or as big as you’d like, just start saving! One method would be putting as little as $10 a month aside, or anytime you have extra change or cash in your wallet, stick it in your fund!
Make it automatic. If you’re having troubles letting go of the money, treat it like a bill and set up an automatic transfer on payday. That way you won’t even notice that the money is gone and you’ll be surprised at how much you’ll have in the emergency account!
Only use it for emergencies. Make sure you don’t dip into the fun unless it’s an emergency – since that’s what this is for. You’ll thank yourself later!
Good luck out there!