Emergency Fund
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There are many different numbers out there, but the consensus is that too many Americans have no emergency fund. With many living paycheck to paycheck, an emergency savings fund is not available to them. This can lead to a real crisis of the budget and future ability to live with financial stability.

But, the good news is that there are many ways that most people can actively save enough money to have an emergency fund. Here are some methods to use if you need to have a savings for emergencies.

Get out of Debt

It’s hard to utilize many savings methods, if you’re carrying credit card debt. Stop spending on the card and work to pay down the debt. Then, you can improve your credit rating and qualify for a cash back rewards card. Credit cards should be paid in full each month.

Meal Prep

Stop eating out

Purchasing lattes or even visiting the vending machine can add up. Save the money from these types of purchases and you’ll be able to save quite a bit of cash for your emergency savings fund. Make your own coffee at home and take it with you. Bring your own lunch from home, so that you don’t take your lunch break to dine out.

Cut back on high utilities

Can you lower your thermostat or hot water heater temperature? Just a few degrees can help you to save on the utility bills. You can personally negotiate with internet, cell phone, and cable bills. You can also join a company like TRIM, who will negotiate your bills for you. Trim negotiates cable, internet, phone, and medical bills, cancels old subscriptions, and more. It’s free to sign up, and if they save you money you’ll be charged a 25-33% charge of the total they saved you. You’ll still come out ahead.


Use an App to round up your spending

An app, such as Acorns or Qapital, will help you to save when you make a purchase. If you spend $2.50 on a purchase, the app will round up the amount to $3.00 and put $.50 in savings. This will add up just as you could put your change into a jar at home each evening.

Sign up with Swagbucks and your Acorns subscription will get you 1350 SB ($13.50 in gift cards)

Sell Things

What could you sell? Most of us have unused items that could be sold for cash: old exercise equipment, nice clothing, books, collectables, instruments, and such. Using Facebook marketplace, Craigslist, or Ebay you can sell many possessions for cash.

When you’ve made some changes to your spending, then you’ll see the savings grow. Research the best savings account in your area or online and place your savings there. Try to choose an account that offers some interest to help the emergency fund grow faster.

I hope this list will inspire you to start or boost your emergency fund. What is your best tip for saving money?

@2020, copyright Lisa Ehrman

Lisa Ehrman

Lisa has been blogging since 2013, and loves sharing resources and ideas for living a simple life. To get free printables, bonus words, and more - sign up for the newsletter.


Linda Linneman · January 21, 2020 at 11:37 am

I have really got to get myself to do this. I try not to waste any money as it is tight but I just can’t seem to get ahead. Thank you for sharing this article. God Bless

chronicallycontent · January 21, 2020 at 4:12 pm

I’m glad that you found the steps helpful. I would love to hear any ways that it worked for you. God bless you πŸ™‚

    Kimberly R · April 14, 2020 at 7:14 pm

    I really need as much advice as possible. I’m trying to save enough money for a home.

      Lisa Ehrman · April 15, 2020 at 11:38 am

      What a wonderful goal! I wish you all the best, and hope that these tips were helpful πŸ™‚

Marisela Zuniga · January 22, 2020 at 2:20 am

I need to look into the apps, I hadn’t heard of them. Thank you for the tips!

Leela · January 22, 2020 at 5:58 am

Thanks for all the info. Important to know!

    chronicallycontent · January 22, 2020 at 5:01 pm

    You’re welcome, Leela. I’m glad that it could be of help to you πŸ™‚

Peggy Nunn · January 22, 2020 at 1:48 pm

These are great tips. Eating out seems to be the biggest issue with people. We don’t, I make my own meals. they are more healthy, cheaper, and just better all the way around.

    chronicallycontent · January 22, 2020 at 5:00 pm

    Thanks, Peggy. It sure has been for our family in the past. Home meals are great, because we know what’s actually in them. Keep up the great work cooking for your family πŸ™‚

Sara Tarver · January 24, 2020 at 3:19 am

These are great tips!

Calvin · February 2, 2020 at 11:51 pm

Always good to have a back up fund, it’s needed in so many situations. Great saving tips!

    Lisa Ehrman · February 3, 2020 at 3:51 pm

    Yes, and we never know when! Thank you πŸ™‚

KariLorr · April 16, 2020 at 4:09 pm

I’m at the selling things point right now. It’s definitely time to pump up the emergency fund.

megan allen · November 28, 2020 at 3:46 pm

This is really good advice! I need you to help keep me organized with everything in life!!

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