You already know the importance of building an emergency fund. But getting started and adding money to it can feel like an uphill battle. Given this, you need an emergency fund strategy to ensure that you stay on track and end up with a healthy safety net. One strategy to building an emergency fund from scratch is to seed it with existing funds that you already have set aside in savings.
However, not everyone has a savings account nor money simply lying around to be used. To get your emergency fund moving in the right direction, we’ve identified seven different hacks in this updated article that you can take to kickoff your emergency fund. These small steps can all add up to big savings that can prepare you for an emergency.
Your Emergency Fund Strategy?
Hopefully you found these ideas informative. Remember to prioritize your emergency fund when you’re just getting started saving. It can protect you from taking on debt to cover an unexpected expense. But finding ways to save extra money each month can feel daunting. Bringing your lunch to work is a popular tip, but there are are other creative ways to find cash to save.
What strategies do you use to build your emergency fund?