It’s best to always be prepared for every possible situation. You never know what may happen, you might encounter an illness which the insurance won’t handle, or a car accident might lead to expensive repairs.
Below I wrote a few tips I used to create my saving account to over 2k!
How it is possible to save on a minimum
6 Tips to Create an Emergency/ Savings Fund
Just like you, I have always had a problem trying to save up. After many trials and errors, I have developed a system that has helped me saved over $2,000.
Here are 6 tips for creating Savings and Emergency Funds.
Mindset is the most important tip on this list. Your mind controls your reality. You have to believe that it can be done in order to make it happen. Setting the intention of, in the next month I will have$__ amount in my bank account will manifest into this reality.
With this determination of wanting $1,000 in your saving account, it will become easier to decline things you don’t really need.
If you see a new pair of shoes, shirt, makeup, glazed donut, or whatever, ask yourself,
What am I
gaining from this transaction? What will I be losing?
If you are saving for a trip to Hawaii or move into a new house, would spending this money affect your dreams? What’s more important, your dream or the donut? Ask yourself, what purpose am I serving by purchasing this? Think of the bigger picture.
2. Have a Goal in mind; what is your Why?
Having a purpose every time you transfer your money into your savings account is a good mindset shift. Say to yourself, this $10 is contributing to my emergency fund. Do not think of saving as in lack, it is still your money you just are setting it aside for a later day.
What is your
WHY? Why do you want to save? Your “why” is the motivating factor.
Your goal is
“the car,” and the why is the “gas.” For reaching your destination, your car
needs gas, so for your goals to accomplish, you need a driving force, which is
your “why.” Why do you need to save money? How will these savings help you?
Remember: The more you spend, the longer it will take you to reach your savings and emergency funds goal.
3. Unsubscribe to all Unused Subscriptions
There are some
apps like Truebill that
take the load off of your shoulders. This app is really helpful since it will
detect subscriptions that you subscribe to without any knowledge.
subscriptions take monthly deduction out of your account if you aren’t aware.
I subscribed to
many video/photo editing apps that took out $10 a month. That’s $120 a year I
was paying and had no idea. Also, they act as your money manager.
One time I had
an overdraft on a credit card. There’s an option for Truebill to dispute this
claim on your behalf. I allowed them to do so and was refunded the money. I
didn’t have to talk to anyone!
You can create a monthly
budget to help towards your saving/emergency fund with this app
Truebill refers to “Your
finance watchdog,” and I agree
ARE YOU STILL
4. Side Hustle or a Job to overcome extra expenses
income by having a side hustle/job. Whatever income you make from this job goes
directly into your savings/emergency fund.
A few ideas are
online with Cambly. NO experience necessary to start teaching with
Cambly. You can read my review of the company here.
Teach with VIPKID. To teach with VIPKID, you must have a bachelor’s degree. The interview process is easy! Apply here and start making an extra income.
Focus Groups, Focus groups are easy and all-rounders. You can learn and earn. I completed a focus group one time that paid me $200. The group wanted information about my travel experience. These focus groups are doing market research to improve their business. They will pay to know what you are thinking during your purchasing process. Focus groups allow in-person participation and online. Here are some focus groups you can focus on,
my favorite online focus group. You can earn up to $140, depending on the
Another great resource is Dscout. This app is filled
with great focus groups. I participated in a Dscout group that paid me $75 for
Find a challenge chart on Pinterest to help track your savings goal. I love these because it shows what you need to do to reach the goal. If you want to save $1,000 in 2 months, find a real challenge you can do and stick to it.
6. Automatic Saving
favorite way of saving is Automatic Saving. I use this app called DIGIT and love it. DIGIT works by
withdrawing small increments of money, or you can create a daily withdrawal
My plan is set
up to withdrawal as low as 15 cents to $10 daily. Within no time, you can
easily save $100 without even noticing. I created a more in-depth post of
There is an
option on the app called “Have an Emergency Cushion.” Create this account, set
your daily limit, and that’s it!
If you use my referral code, they will start you off with $5! Click Here
I hope this was
It’s always great to have an emergency fund/saving account. I hope these six tips to creating an emergency fund and savings have helped you. Having savings and emergency funds is never a bad idea.