Ways to Build an Emergency Fund

1
(No Transcript)
2

• Every month when you get your salary, you had it
  all planned on how to use it? You also planned
  to save some for the future but dont know how to
  make it happen. Maybe youve already tried
  saving some for the emergency but failed. You
  must be thinking that how on earth am I going to
  manage to pay bills and still have enough to
  save?
• Here are few ways on how to build an emergency
  fund with whatever your current income is and to
  rest assured that you have saved some for
  unanticipated expenses.
• Make a Budget
• The foremost step of building an emergency fund
  is to make a budget and follow it. This way,
  youll know where youre spending the most and
  you will know what all expenses to cut to free
  up some cash for savings. If you want your
  savings to grow you need to look at your budget
  and find ways from where to cut corners. You can
  take help from a financial advisor in Adelaide
  if you cant figure out how to make a budget.
• 2.Store your Windfalls
• Any extra money you get from a tax refund or a
  check rebate you need to resist the urge of
  spending it and instead save it immediately in
  your emergency fund. Dont misunderstand the
  power of every little windfall you get. If its
  invested correctly it could ease a lot whenever
  you get an unexpected expense.

3
3. Save your Tax Refund Every year the majority
of tax filers get some sort of refund. If you are
one of those people, one of the smartest things
that you can do is to stick it directly into your
bank account. This amount will add to your
savings and will come a long way when you need
it.
4

• Find Expenses that can be Cut Back
• By cutting those expenses that are not good for
  you will help you in saving some in your
  emergency fund. So, for example, cut back on
  high-fat snacks like chips and cookies, on
  sodas, and on high-sugar. You can save a lot in a
  month by being a mindful shopper.
• Give up Cigarettes, if you Smoke
• A pack of cigarette costs you 6.28 on an
  average, and a smoker consumes a pack in a day
  or more than a day. But if you cut this habit
  back you can move that money to your emergency
  saving funds. It is one of the healthiest ways to
  save money for unexpected expenses.
• Source
• https//budgetspendingplan.weebly.com/blog/ways-to
  -build-an emergency-fund

5
Contact Us https//myspendingpla
n.net.au/ info_at_myspendingplan.
net.au 0411 508 805
142, Melbourne Street, North
Adelaide,SA,Australia,5006
6
Thank You For Watching