How To Save For An Emergency Fund - Even When Money Is Tight!

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If you have no credit card debt and a decent job, saving up for emergencies is easy. But when money is tight, and it's hard just to pay the bills each month, finding extra money can be real hard.

But do it anyway. Create an emergency fund that you will only use for real emergencies. Like car repairs. Medical bills. Or other unexpected expenses.

And put the money in a place where you won't be tempted to use it "just for fun"!

The best place is a separate savings account or money market account at your local bank. One that's NOT tied into the savings or checking account you use regularly. If you keep taking money out for non-emergencies, you won't have it when you really need it.

So, where do you find money for an emergency fund when money is tight? Here are a few ideas:

1. Take $5 or $10 (or more if you can afford to) out of your wallet or purse each week.
2. Have a tag sale or sell some of your "valuables" on Craigslist.com 3) Eliminate one or more of your monthly expenses and put that money in your emergency fund. 4) Pay yourself first when you get your paycheck! Sounds hard to do, but it forces you to save money. 5) Get a part-time job or look for a way to make extra money online (www.genuinejobs.com is a good resource).

   Why is having an emergency fund so important to your financial success? Two reasons: 1-It teaches you how to save first (rather than spend first then try to save). 2-It help you deal with emergencies without having to use your credit cards.

   Even if you start small, the most important step is the first one. So get started today. Follow the steps above to save for your emergency fund - even when money is tight!

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