The QUICKEST way to save for an EMERGENCY FUND! After going over video ideas, I decided to go over how to quickly save for an emergency fund because it really is the first step to set you up for financial success! Having a fully funded emergency fund can keep you from having to take out a loan or use a credit card for emergencies. This method will help you stay out of debt and help you save money. It’s always nice to have a little cushion just in case emergencies happen and that’s exactly what the emergency fund is for. Saving for an emergency fund may be difficult but with some discipline, anyone can do it! Just follow the steps below.
1. Have a monthly savings goal: Put aside money every time you get paid and have it automatically transferred to a high yield savings account. This will allow you to save for your emergency fund a lot quicker.
2. Trim your expenses: create a budget and see where you can improve on. Stick to spending money only on necessities and cut down on wants!
3. Get a side hustle or job: make some extra money a month and use that extra money to fund your emergency fund.
4. Save your tax return: tax season is coming and most people use that tax return to spend it on something they want. Instead put that money in your emergency fund and that will give you a huge boost to get your emergency fund fully funded!
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