An emergency fund is one of the essential items you need to start the journey of becoming financially secure, paying off debt, and start the ball rolling on getting your money in order. Backed by financial experts like Dave Ramsey, having an emergency fund gives you something to lean on when you have a financial emergency or an unexpected expense lands in your lap. You want to start with at least having $1000 in your emergency fund. There are many ways to kick start your emergency fund, but what do you do if you are having trouble with your funds in the first place? Check out these 5 ways to create your emergency fund in no time.
5 Ways to Build Your Emergency Fund Faster
Garage Sale
Hosting a garage sale is a great way to declutter your home and get money into your pocket quickly. Take note of everything in your home that you no longer need or use. Every single room should have things being sold out of it, from the baby’s room to the kitchen. Another great idea is to host a yard sale with other families and neighbors. The more stuff you have, the more attention you will get. Advertise your garage sale on Craigslist and Facebook to get traffic going. Here are tips for holding a successful yard sale.
Sell Your Stuff on Facebook
There are so many groups on Facebook that people are creating that are dedicated to selling items. A great reason to go this route is that you also get to see who you are selling the item too which makes it a little bit safer than just selling your stuff on Craigslist. Check out some local groups in your town, join them, and start posting your unwanted items.
Babysitting
One thing that you will never be short on, are parents looking for babysitters. Try babysitting or hosting a parents night out at your house. Multiple parents can leave their children at your home while they go out for the night, and you can make more money that way as well. Ask members of your church or play group if they are looking for date night sitters or someone to watch their children during the day while they work or even just to run errands. You’ll find the need to be overflowing.
Cleaning Homes
A quick way to make money is to clean homes. Advertise in your neighborhood or online as a housecleaner. All you need is your own supplies and theirs, and you can quickly make $30 an hour cleaning a home and build your emergency fund quicker than you can imagine.
Sell Crafts
If you are creative and like to make things, you can sell your crafts. There are many different places you can sell your items either online, at craft shows, or even local farmers markets. Making things like wreaths, bows, and other cute items that most homeowners and parents are looking for can grow your emergency fund in no time. Do some research and see what local events are close to you.
More Money Saving Tips
How to Build an Emergency Fund on a Slim Budget
How to Stop Living Paycheck to Paycheck
10 Tips for Staying on a Budget
Stepfanie Cuevas has been a writer and blogger for the past 7 years. You can find out more about Stepfanie by checking out her personal blog at Stepfanie’s Desk.
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Mary says
I always use my c/card , I also have a five year diary which i fill in each time I use the card . NEVER throwaway your receipts, (designate a place in your handbag or pocket when shopping) that way it’s easy to fine them and enter on each day you purchase something ( I keep my diary by my bed where it’s easy to fill in when I’m watching T/V