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If your plan for money for your next emergency is to scoop up the change that falls between the cushions, you might want to come up with a plan to add to that stash. It is always a good idea to have a little extra green for the lean times. Rainy days could be just around the corner. Rainy day funds become necessary! Here are some very clever and virtually painless ways to put aside some money now!
Put aside a large envelope, cookie tin, coffee jar or something similar. At the end of every week, throw a couple of dollars aside. By the end of your first month you should have some extra cash put aside to have a nice start on an emergency fund. The idea to doing this is don’t count it or spend it. Place it somewhere that is hidden away. Put it somewhere that you won’t be tempted to dip into it. This kind of money really adds up!
The next time you treat yourself or your family to a meal out, tip yourself! Just as you go to tip the waitress 15 to 20 percent, put the same amount aside for yourself. When you get home, stash it away in your cookie jar. Every time you go through a fast food window, put a dollar away for that cookie jar, too!
The next time you get a good raise, instead of applying it to your cost of living, bank it! This way you will always be living one raise behind and your bank account will be growing by some 3 percent.
Take advantage of that cash back option! Next time you make a purchase using your debit card, ask for a small amount of cash back. Instead of spending it, stash it away in your cookie jar! Chances are you won’t even miss that extra $1, $2 or $5 bill and come emergency time, you will notice how the amount has piled up.
Next time you pay off that big-ticket item like a new car or tuition, continue to make the payments to yourself! Set up a savings account and each month slip the ghost payment into it. Watch as it builds nicely.
If you have noticed that you can get a better long distance telephone plan and you want to switch, allocate the savings to your cookie jar. You won’t likely miss that little bit of extra money, and you will have a better telephone plan, too.
Consider joining a Christmas club. You will save a lot of money. Each year you put aside a bit of money and place it into a hamper program. Then, as Christmas rolls around you don’t need to scramble looking for Christmas cheer to share with your family. Your hamper arrives filled to the brim with all kinds of seasonal goodies that you paid for over the previous year. You can easily put aside $50 each year towards your emergency fund this way and you and your family will enjoy a hassle free Christmas.
