Financial Resource

Emergency savings funds are money that you set aside to use in the event of an emergency. The amount in your emergency fund will depend entirely on you and your situation. How much are your monthly expenses? Which ones can be reduced in the event that you have to live off the rainy day fund? What do you absolutely have to have from month to month and how much does it cost? Is there anyway you can reduce these costs?

Once you answer these questions you have a basic guide for the amount of money you need in the savings fund you use strictly for emergencies. Then you have to figure out how to build up this fund. The quicker you want to build the fund the more creative you’re likely to get with the ideas for tucking money aside to place into it.

Loose Change

Collecting all of your loose change into a jar will help you to increase your emergency savings fund. If you make it a point to round up to the next dollar every time you go shopping you’ll find it easier to put the change into a jar to deposit later. Don’t limit it to your change if the fund is for your entire family ask everyone to participate. While spouses and children may want to deposit only pennies in the jar as a way to save it’ll help as well.

Direct Deposits

You can have a portion of your paycheck direct deposited into the emergency savings fund each pay period. This means that you’ll never miss the money since you never saw it in the first place. You can also get a part time job that is used strictly to earn money and put in the savings fund you have for emergencies.

Yard Sale

You can take some of those items in your home that are collecting dust and have a yard sale. Those vases, dishes, books and even old clothes that are too small (but in good condition) can be sold at a yard sale. What doesn’t sell can be taken to consignment shops or posted on e-Bay. The proceeds from these items can all be deposited into savings.

Recycling

Recycling things such as aluminum cans, steel cans, scrap metal, copper and brass can all be done for cash. Collect these items, get them from family, friends and business and sell them.

These are just a few ways that you can build your emergency savings fund quickly. The faster that you wish to increase the amount of money that you have in it the more creative you will get about it.

Tags: aluminum, amount, amount of money, Change, Collect, collecting dust, condition, consignment, dishes, do i use a jar for emergency fund, doesn, dust, e bay, Emergencies, emergency, emergency fund, event, everyone, family, fund, Guide, Help, how much to deposit in emergency fund, how to build up an emergency savings quickly, how to increase emergency fund, how to increase your financial resources, how to raise emergency funds, jar, job, limit, metal, monthly expenses, need, old clothes, part time job, paycheck, pennies, period, place, proceeds, Quickly, rainy day fund, raise emergency fund quickly, Sale, saving just pennies in a jar, savings fund, time, vases, ways 2 save pennies in jars fast, yard sale