5 Ways to Build up Your Emergency Fund

In life emergencies happen. Sometimes we are prepared and sometimes we aren’t. When it comes to potential financial emergencies, we can be prepared. Starting and building an emergency fund is a great way to be prepared and also helps give you more security and peace of mind.

Listed below are 5 ways you can build up your emergency fund:

  1. Round up – When balancing your checkbook, round up on the amount of the purchase or bill to an even amount and then take that change and put it in your emergency fund.
  2. Sell your old stuff – Have a garage sale or sell some of your old things on a buy & sell website and then take the money earned from those sales to put in your emergency fund.
  3. Save a few dollars a week – Take a few dollars a week and sock the money away in your emergency fund. If it’s only a few dollars, chances are you won’t miss it and your emergency fund will grow.
  4. Collect spare change – Take your spare change and put it in your emergency fund. A little bit here and there can add up to a lot!
  5. Small expense cuts – Maybe you can clip a few coupons and save on your grocery budget, set your thermostat at a lower temperature, or use less electricity. Any extra dollars you save from cutting expenses, you can add to your emergency fund.

If you can’t take big steps to build up your emergency fund, no worries! Just remember, when it comes to building your emergency fund, every little bit helps!