5 Ways to Build an Emergency Fund

life ring of cash

Life takes a lot of unexpected twists and turns. What happens if something goes wrong? What happens if that something is really expensive? By setting up an emergency fund, you can relax knowing that if anything does go wrong, you’ll be able to get through any situation while still being financially comfortable. How much should you have saved up? The amount differs for each person, but a good emergency fund entails three months worth of money. That means any expense you need to live comfortably without working for three months. Avoid financial ruin by reading up on some of the emergency fund tips and knowing that quick cash loans from Tio Rico are available if you need one!

  1. Let Us Help!
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  2. Get a Second Job
    Find a 6-month gig waitressing or working retail and put all earnings into your emergency fund. It sounds like a lot, but in hindsight, it’s the perfect way to stay prepared and live comfortably.
  3. Make Little Cuts
    Hold off on the to-go coffee, after work drink, and eating out for a few months. All of this spending adds up and will make a huge contribution to your emergency fund. You can also do something as simple as cutting off cable and picking up new habits like reading for a bit. Cancel that magazine subscription you half-read, turn down the thermostat a slight amount, or try some coupon savings!

Good luck building up your emergency fund!

Photo Credit: Chris Potter