Experts say that everyone should have a basic emergency fund of at least $1000. Why? Too often, those little unexpected emergencies come up when you just paid all the bills and there is just not enough money to cover what you need; whether the dishwasher breaks down, you get a leaky pipe, your car won’t start, the list could go on and on. If you do not have a minimum of $1000 sitting in your savings to cover such unforeseen cases, experts say that you should not only begin socking away as much money as you can right away, but that you should make it a top priority have the money saved up within a couple of months.
How can I save up a $1000 emergency fund?
If the idea of saving up a $1000 emergency fund seems impossible for you right now, there may be some ways that you haven’t thought about yet; you just might have a lot more money than you think. How do you ‘find’ that money, you ask? Begin by fixing yourself up a tight but workable budget that works for you and your family. Too many families out there just live paycheck to paycheck and do not really have any money left over afterwards, yet do not realize how much their little extra expenses really add up; take-out meals, buying unnecessary items such as video games or movies, going out too often,or too many little “splurges”.
If you are thinking to yourself,”well, my budget is already as tight as it can get and there is no breathing room left,” you should start looking for other ways to build up a quick $1000 emergency fund. Try having a garage sale. Go through your house and find the items that you really don’t use or care for anymore and sell them! Also, you might want to consider selling your broken or unwanted scrap gold to a gold buyer that you can trust; if you find the right place, you can get a lot of money right now since gold prices are at an all time high.
