​Steps to Build an Emergency Fund

An emergency fund is just some money set aside for unexpected events, like hospital loans, car repairs, job loss, etc.

 

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To start:

 

1. Gather a little cash: aim first for an amount you’d feel safe with (even a small cushion helps).

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1. Automate small transfers: send a bit of money from each paycheck you have, each income you receive, to a separate account where you deposit the first amount of money.

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1. Use bonuses or gifts: If you can or want, put any extra cash directly into that account.

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1. Check in regularly: occasionally, top it up if you’ve dipped into it.

 

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If you want better results you can use any method to generate from it compound interests!