When facing an unexpected financial challenge...
Don’t let your back up be credit cards or payday loans. Build your cash reserves today.
Here's a simple way to start your emergency fund, or add to the one you already have:
Choose a different amount to save each week depending on your cash flow. In 52 weeks – or 1 year – you will have saved $1,000. Here's what your amount/week could look like in the picture:
Be sure to keep this money in a savings account or anywhere else you can access it easily. Once you reach $1,000, keep going. With three to six months of expenses in an emergency fund, you should be able to handle a car repair, medical expense or sudden job loss.
You can follow the picture a week or twice in week or thrice in a week helps you to build emergency funds as fast as you can.