Your Mini Emergency Fund

If you are just starting to make sense of your budget (you have one, riiiiiiight???) and you feel like you're finally adulting, the next thing you need is an emergency fund. 

If you are starting on the long (and satisfying!) road to paying down your debt, then you need an emergency fund. 

If you are a person who does things with money, then you need an emergency fund. 

I talked about it a bit already in this post. The long and short of it is that you need a smaller fund for mini-emergencies and a larger stash to save you from ruin. Get your smaller fund together first, that will save your butt in case of unexpected expenses like a car repair or broken phone. 

$500 is good, $1,000 is better. That should keep most of your financial boogiemen away.

What are some ways to build up your mini-emergency fund quickly? Here are a few ideas to get you started: 



This is the time of year when lots of people are getting a refund from their taxes*. Instead of frittering yours away on retail items, build up your mini-emergency fund. Open a savings account and stash that cash! Make it a fund you can get to easily...but not too easily. You know what I mean? If your car is in the shop getting 4 new tires, the mechanic can wait until morning for you to drop by with a check. If your friends are going to Vegas and want you to come, you should feel like you have to jump through just enough hoops that you won't make an impulsive decision and blow your savings.

Challenge yourself to a "No Spend Month" and make it count! Chances are that you have too much. Of everything. There's an old Depression Era saying: Use it up, wear it out, make it do, or do without. Make this your mantra. If it's not food or medicine, you aren't buying it. Give yourself one month, or two weeks, whatever, to just cut out all excess from your life. Don't buy anything that you don't really, truly need. Go through your pantry and freezer and make do with what you have. No one ever died from eating pasta and not buying another pair of jeans. I promise. Spend all your lonely free time going through your cabinets and closets. Reevaluate what you wear, how much you have, what you don't really use or need. Every item you own should be useful. If not either sell it donate it or repurpose it. Clear your mind, clear your space, build your savings. And then when the month is over go fucking nuts and order thai food. Awwww yeahhhhhh. 

Hone your side hustle. There are a bunch of ideas in this post. In my experience, babysitting is where it's at. Especially date night sitting. 

More hackneyed old sayings: If it's important to you then you'll make time for it. Your actions speak louder than your words. Don't talk about it, be about it. We started from the bottom now we're here. 

Do you have a mini-emergency fund? 



*Personally, I do not like to give the government an interest free loan. If a tax refund is the only way you can save a big chunk, then so be it -- but consider adjusting your withholding amounts. More money in your pocket each month may help you more towards your goals.