(ThyBlackMan.com) During the ‘dark and dreary days’ of our lives, we need something that can get us through those times.
We should put some money aside for emergencies that can help you when life seems really tough and painful. An emergency fund is a necessity and makes you breathe a little easier when you know that you have saved enough for the rainy day.
But the only problem is that we do not know how to make it happen. We try to save money but due to a tight budget, we fail to do so. Here, we will know about some of the quick ways that will prepare us for any emergency that is destined to come in the future.
Savings FIRST
The first tip is not to wait and see how much you are left with at the end of the month, but rather save first. Each time you get paid, put aside some money in the emergency fund before you think of doing or buying anything else. Once the money is in your emergency fund, you won’t feel tempted to use it and spend it on other things.
Search for one-time income opportunities
Nowadays there are many platforms that can help you to earn quick bucks by doing some quick work. It sounds a little shady, but that’s not what it is. One-time income opportunities include answering online surveys, taking care of pets while the owners are on a vacation, participates in focus groups and so much more. After earning money, you can put it in your emergency fund and reap the benefits later.
Sell old stuff
Selling platforms such as eBay, Craigslist, etc. are some of the places where you can sell your old stuff such as old kid’s toys, exercise equipment, dusty tools, etc. These platforms help you earn money quickly in exchange for some old stuff that was occupying space in the house.
Slash your budget
Control your expenditures and try to cut up your budget as much as possible. Stop investing in useless stuff and free up that money to put in your emergency funds. For instance, do you need to pay for those 1000 cable channels that you don’t even know exist? Do you really need to eat out 4 times a week?
Also, take a look at your monthly expenses and see if you can make any other changes necessary. Every penny you can slash off from your monthly budget will make your emergency fund stronger and heavier.
Get a second job
No gain without pain. If you want the money in your emergency fund to stash up and grow more day by day, you need to start pulling extra hours. An extra job can make a lot of difference when it comes to saving money. If you have flexible work hours in your first job and you get a lot of free time, don’t waste your time watching Netflix and start hustling to get another job and save from that.
Use the money for emergencies only
Your emergency fund is for uncertain events, so if you actually have an emergency, use it. Just try to avoid taking out money from your emergency funds for things that are not worthy, for instance partying or buying stuff you won’t need.
An emergency fund means that it’s separate from your other accounts so use the money wisely and when in desperate need!
Make small changes in your daily habits
Saving money is good, but what if you could save more by taking some easy steps like making changes in your habits such as buying generic stuff, meal prepping, skipping happy hours for drinks at home, using store apps for digital coupons, or cutting back on your caffeine habit?
These small changes in your daily lifestyle will help a lot in saving your money that you can further stash into your emergency fund. They don’t take a lot of your time but can help you save more money in the long-term.
Staff Writer; Corey Shaw
Have any Tech Tips? News? Hit up our Tech Guru at; CoreyS@ThyBlackMan.com
