Tips to get your ‘rainy-day fund’ started

Our parents and grandparents knew the wisdom of having a little bit of cash stored away for a “rainy day.” A decent-sized emergency fund, which can range up to three months of expenses to something simple like $1,000, is a good way to be ready for life’s little uncertainties.

The Consumerism Commentary blog lists 50 tips for you to get your “rainy-day fund” started, including typical items like bringing your own lunch to work instead of dining out, keeping your pocket change in a jar, and cancelling any magazine subscriptions you don’t need. Every little bit can help, and a few dollars each week can add up to a workable emergency fund.

Some of the tips, like drinking (free) water instead of soda, can also help your health.

We can help by setting up a member’s choice account for you, and you can name it your “Emergency Account” or “Pocket Change Account,” or something else that lets you know to keep your hands out of it. Because that’s the key to a good emergency fund: not dipping into it for non-emergencies.

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