10 Painless Ways to Create an Emergency Fund (2024)

Here are some ways to find extra money in your budget so you can use it to createan emergency fund:

We are faced with all different kinds of money decisions every day. As a society that struggles with how to handle money, one of the biggest advantages we can give ourselves is to create an emergency fund that can re-route some of our bad money choices. By having an emergency fund in place, you can feel confident in the fact that you do not have to borrow money or live paycheck to paycheck if a situation comes up where you would need extra funds right away.

There are manyways you can begin to save money inyour emergency fund. The best ways to create an emergency fund are the ones that fit into your lifestyle. Below are painless and easy ideas to adjust in your daily life to help you save money.

10 Painless Ways to Create an Emergency Fund

1. Stop eating out. By brown-bagging it to work at least 4 days of the week, you can start putting those extra dollars you spend straight into your emergency fund.

2. Cut Down On Electricity. If you pay an electric bill, a great way to save money and detour it to your emergency fund is to take note of how much electricity you are using. Open windows in your home, use fans instead of an AC, turn off all lights, and unplug appliances you are not using. Also, try using your laptop or portable device more often versus the television to save on electricity.

3. Carpool. By carpooling and running errands with friends, you can lower your gas usage and put the extra savings into your emergency fund.

4. Sell Your Items. There are probably tons of items you are not using in your closet, garage, or all over your home. Go through everything you have not used in a month, and other items you no longer have a use for. Have a garage sale, sell items on Craigslist or eBay, and put the money you have made into your emergency fund.

5. Sell Handmade Items. There are great sites like Etsy or your local flea market that let you sell handmade items. Whether you like making jewelry, painting, pottery, or making t-shirts, gather some supplies together and see what you can profit on to continue to pad your emergency fund.

6. Work In Your Neighborhood. There is always grass growing or dogs that need to be walked. Go around your neighborhood and see what errands people need to be done. Chances are you can walk away with at least $20 a day to put into your savings account.

7. Take On Tutoring. Tutoring kids in your city or even offering your tutoring services online is a great way to not only fund your account but is perfect for reaching out to your community.

8. Consignment Stores. Thrift shops and Consignment stores are now popping up everywhere. Take bags of clothes you no longer wear to the store and sell them for a couple of bucks. Not only does it give you extra cash, but clears your home of clutter.

9. Adjust Your Bills. Call every bill you have to make any adjustments to your services and payments. You may find that you are not using all of your cell phone minutes, or that there is a new package deal on your cable bundle. You could potentially save hundreds in a month and transfer that to your emergency fund.

10. Keep Your Saving Automated. By allowing your income to be automatically deducted and transferred into a savings account is a great way to force yourself to live on less and build an emergency fund without even trying. If you get an irregular income, get in the habit of paying yourself first by transferring part of your money directly into a savings account.

An emergency fund is the largest tool on your side when it comes to financial freedom and true success in managing your money. With the confidence of having an emergency fund behind you, you can be sure to make better decisions with your money.

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Stepfanie Cuevas has been a writer and blogger for the past 7 years. With working in social media, she has enjoyed the fact that you can connect with anyone from across the world. You can find Stepfanie at Stepfanie’s Desk.