Easy Tips to Prepare Emergency Fund

Many people do not have an emergency fund that can be used when needed. Mostly just a regular savings that can be withdrawn at any time. In fact, it helps you set aside a special fund for emergencies rather than have to cut savings.

Emergency fund like this would be necessary in such situations, sudden car repairs, hospital bills due to unexpected accident or subject to termination of employment (FLE). In addition, for those of you who have never had such deposits, could be a resolution to start in the year 2012, especially if your money is up for the Christmas and New Year holidays.

So how is the right way to start an emergency fund? Here are some tips taken from financialedge, Tuesday (12/27/2011), which can help you:

 Do not force yourself

Like the old saying goes, a little too long become the hills. So start with something small for this emergency fund. In fact, you can get started for only $ 5 per week. The point is not on the amount of money set aside, but rather the habits and discipline in saving. Once you get used to this, your number could increase gradually each week.

Ask banks help

To ask your bank to automatically cut the budget of your salary into a special savings. This can help you be less disciplined in dividing the money. Once again, there are not too large. After a time, without your realizing it, the number will more than suffice.

Think of this emergency funding as routine bill

These tips are also useful to help you be more disciplined in setting aside an emergency fund. Think of this emergency fund as regular bills that you must pay. When you make a list of monthly bills, put the 'emergency fund' in the list. To be unique again, you can create a complete invoice with the date of each fund your emergency savings.

Do not use overtime pay and bonuses

Indeed, there are no rules you have to spend your overtime money, bonuses or other benefits until they run out. It helps you save your money into an emergency fund. It is better than buying a new phone or eats in very expensive fancy restaurants. You will not regret having saving money.

Save a dime

Find an empty box or cake tin cans and clean it. Then, each time you have a dime in his pockets, Put into the repository. After one month, the funds collected would be quite large. After that, transfer to a special account your emergency fund. Category of 'coins' it depends what you want, be a maximum of $ 5. If smaller, straight into saving cans.

Conclusion: There is a proper random why such a fund is called 'emergency'. You do not want to get stuck in an emergency situation with an empty bag. If it happens, it can erode your financial health because it was forced to borrow money at the wrong time.

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