How to Start an Emergency Fund to Achieve Financial Peace

Thanksgiving is done which means the Christmas shopping season has officially kicked off.  If you hadn’t been thinking about it before, I’m sure you are now.  But with shopping comes stress.  The stress over whether you will be able to get the perfect gift for everybody on your shopping list without breaking the bank.  This year I have prepared for the shopping season so I am not finding it to be as stressful as the last few years have been.  Part of that is because we have an emergency fun and have started to achieve financial peace in our lives.  Since money stresses can lead to stress in all areas of your life, I thought it would be a great time to share some ways to start an emergency fund.  You know how Dave Ramsey says to save $1,000 in an emergency fund?  It’s easier than you think.

Emergency Fund

Save your pennies.  You know the old saying, “Every penny counts” ?  It’s true.  I keep a giant jug around for spare change.  Instead of keeping it in your purse or car or wallet to spend right away, keep your spare change in a separate place.  You will be surprised how quickly it can add up.

Direct deposit.  If you are planning to save money straight out of your paycheck, have it direct deposited into a separate account if you can.

Stick to your budget.  Okay, first step is to write out your budget.  This is a big deal you guys!  It will save you a ton of money in the long run because suddenly you control where your money goes instead of your money controlling you.

Start small.  If you are just starting out and can’t do much, start with $5 a week.  You probably won’t miss it but it will add up faster than you think.

Wait for the deal.  If you are looking to buy something and have a budgeted amount for it, wait for it to go on sale.  Buy it on sale, and stick the rest of the money you had budgeted for it into that emergency fund.

Just save it.  If you get a raise or a bonus, add it to your emergency fund.

Don’t spend.  You have bills to pay, you need groceries, gas, etc..  but that is it.  Don’t spend money anything that isn’t a necessity.


As with just about anything, if you have time to wait, you can wait out the deal.  To kick off this holiday season, Capital One 360 is decking the halls with deals you can bank on, including new account bonuses, referral bonuses and closing cost credits to help you stay on track with your spending as you round out the year.


Do you have an emergency fund?  How did you build it up?


I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.

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