One thing that can disrupt one’s financial progress is emergency occurrences that are not planned for. These occurrences can be a clog in the wheel of your financial drive. Just when you think you are cruising, and everything is happening fast and then suddenly, your refrigerator stops working, your car breaks down, or your child falls off his or her bike and needs several stitches in the chin and you are fast in a crises mode that you never imagined.
If you have taken the Financial Peace University course or read Dave Ramsey’s Total Money Makeover, you will understand by now that the first major step in regaining financial control so that you can avoid another financial crisis is to set aside an immediate emergency fund of $1000. Financial planning company Bright peak Financial recommends this same logic as well.
At first setting aside $1,000 may seem an uphill task, but the truth is that there are several ways of saving up an emergency fund as fast as possible. A major key to success is to come to terms with the fact that getting your finances together will not be easy or fun, but in the long run, it will be worth the effort. In addition to this, the great thing about all these ideas is that they will not only help you build your emergency fund, they will also help you kick-start your debt snowball and set you on the right part to becoming financial enough and debt-free.
- SELL SOMETHING (OR SEVERAL SOMETHINGS)
just because you are afraid you won’t get what you paid for them. The money is gone already, but at least you will be making progress that will eventually bring about a solution. You can check out how you can sell items on eBay, Facebook, Craigslist or at a garage sale and if by chance you haven’t opened the item, then you can return it to the store where it was purchased!
- GET A SECOND JOB
You must put in mind that your dream job might not be what is available now. Hence, you must take up whatever job that is available while you expect that dream job, this is the bitter truth. You must realize the fact that there is no job you are too good for. Go stock grocery shelves at your spare time, clean houses, work at McDonald’s or deliver pizza. Continue to search every available space for job openings; as far as you are willing to work, you will get a job. Search for jobs online, and in the newspaper or look on craigslist.
- WORK FROM HOME
You can as well find a way to work from home if getting a job outside the home is not an option for you. Are you a mother that stays home with the kids? In that case, you can start an after-school or babysitting care for your kid’s friends whose parents need childcare. Are you good with a computer? Then you can become a Virtual Assistant. Can you sew? Why not start offering tailoring services or sell your own items on etsy.com? There are so many things you can do, all you need to do is some self-searching, ask yourself a few questions and start from what solution you can provide for people around you.
- CUT YOUR GROCERY BILL IN HALF
If you perceive the thought of starting your personal business as overwhelming probably due to the fear of the unknown the, why not instead start by cutting your daily expenses? A few modifications in the way you shop for food and groceries can result in appreciable savings for you. Buy items when they are cheap and buy only what is important now. Plan your meals and eat less by using a budget-friendly service such as meals.
- SAVE ON UTILITIES
Spending too much on things like water, electricity, phone, water, or even cable is practically like pouring money down the drain. Another great way to “earn” money from home is to pay close attention to the money you spend in your own home without even thinking about it. A little monitoring of how much you spend on utilities can go a long way! Consider using a service like BillCutterz. This innovative service will help you to negotiate better rates for all your bills, and then splits the difference with you, which means that the bills are paid only when you are able to save money.
- STOP EATING OUT
When you get tired due to a hectic day at work, sometimes eating out just seems like the best option. After all, fast food is easy and quick and it’s relatively cheap, right? Wrong! All those easy and quick fast food meals will eventually add up to a lot more than you would have incurred if you decide to eat at home, and to even take it to higher level, taking your family for dinners at a nice sit-down restaurant could pay for a whole month’s worth of coffee and food at home.
- GET FREE STUFF
You will be amazed to find out how much stuff you can get for free or close to free once you look around. Check out free section on Craigslist.org or websites like Freecycle.org, or just drive around an upscale neighborhood on trash day to find things you need, or even to resell and repurpose.
- EARN INBOX DOLLARS
If you haven’t heard of inbox dollars, visit Inbox Dollars ASAP to sign up and then check out this post to see all the available ways you can earn Inbox Dollars doing the things you already do, such as shopping online or searching the web. Signing up is fast and super easy. Just fill out the form here. You will get a $5.00 bonus just for signing up and you confirm your email address. The coolest part about Inbox Dollars is that you will be paid cash, so no need to trade in point for gift cards; and you can request to be paid anytime you earn the $3.00 minimum requirement which you will hit in no time. The good news here is that there is a mobile app you can use to earn Inbox Dollars on the go.
- SKIP THIS YEAR’S VACATION
Here’s another bitter truth: If you don’t have any money in your savings account, you can’t afford to go on vacation. Cancel all plans to travel, because the truth is that between the food, the gas, the lodging, and other unexpected expenses that may spring up. The fact is that even the most frugal vacations will still cost more than staying home.
- FREEZE SPENDING WITH THE HELP OF LIKE-MINDED FRIENDS
If you are used to going out on a spending spree with friends, it may be a little bit difficult to stop that kind of lifestyle even when you know you need to stop. If you are committed to building that emergency fund, then you need to resist the temptation to spend on unnecessary stuff as much as you can. The LWSL 31 Days of Living Well & Spending Zero Challenge has some fun ideas that can help you make it through a whole month of no spending, and a great way to ensure it works is to team up with others who are taking on the same challenge in order to hold each other accountable.
Keeping to the tips highlighted here will go a long way in helping you build an emergency fund. Even if you don’t follow every singles step. Just by following 5 of them or 3 or even just one step will get you closer to your emergency fund!
If you in need of instant money, compared to other emergency loans, a car title loan with TFC Title Loans is your easiest and least stressful option. Our emergency loans can give you the money you need today all you have to do is to apply online and we can get you funded.
This is brought to you by TFC Title Loans.