An emergency fund can completely change your life! It can help you feel more secure and problems will become only inconveniences for you. An efund can help save your marriage and your health. If you want to read more about this, check out my post Why You Need An Emergency Fund.
Q: What is an emergency fund?
A: An emergency fund is money that can be accessed quickly in case of an emergency.
You can build your emergency fund quickly. It’s not easy nor is it fun, but it will set your financial, mental, and emotional life up for success by preparing for what life will throw at you. Here are some ways you can build your emergency fund fast!
Put all your other financial goals on the back burner.
You never know when an emergency will strike. That’s why you have to be prepared. The only way to quickly save up the money you need is by forsaking everything else and using tunnel vision to reach this financial goal.
Now, I know there are many people out there that love to invest and I understand why. But the hard truth is you have to build your efund and the faster, the better. That means you may have to stop contributing to your 401k for a while.
Sell things you are no longer using.
I’m sure there are things you can find that are still in great condition that is no longer being loved by you. Instead of hoarding these things until they rot, sell them to someone who will love and appreciate these things. With all the great avenues out there for selling, there’s no reason not to sell your old goods.
These are great selling apps and websites you can check out if you’re interested. Read more