If you’re living paycheck to paycheck, trying to build up your savings, and also paying bills, starting an emergency fund can take a backseat. I mean, who has time to save up 3-6 months worth of expenses? It can take a while, but having an emergency fund is absolutely crucial. You never know when you’ll need to replace a car part, have to get a root canal, or worse, be laid off. If you put away a little bit each paycheck, you’ll have it built up in no time- better now than never. Alternatively, you can look for ways to make big cash fast. Check out this post by Jessica Fisher at Life as Mom for tips on creating your emergency fund today:
- sell extra cars and big ticket toys
- have a garage sale
- take a second or seasonal job
- collect all the coins and stray cash in the house
I promise that if you have a little nest egg set aside for the next rainy day, you’ll be able to be less stressed and deal with the real emergency without freaking out,