3 Ways to Kickstart Your Emergency Fund

A $1,000 starter emergency fund isn’t out of reach for anyone. It may take some
hard work to fund it quickly, but you’ll be amazed how much better you sleep at
night when you know that you’re prepared for those curveballs life is bound to
throw your way.
by Chris Brown on June 1, 2015 #money | @ChrisBrownOnAir
3 Ways to Kickstart Your Emergency Fund
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I remember it like it was yesterday.

After the recession hit and some bad real estate investments sapped our
emergency fund, my wife Holly and I had to start rebuilding our finances from
scratch. That meant coming up with some cash, fast.

I sold my beloved golf clubs at a garage sale. That hurt . . . a lot! I also took some
part-time jobs: delivering phone books, driving semi-trucks during the summer,
and doing interior painting until midnight before waking up and going to work
the next day.

It was a rough time for our family, but God sustained us and blessed our effort.
We’re on the other side now, and we’ve actually grown closer as a couple
because of the experience. Praise Jesus.

Maybe you’re there now. If you are, I promise it’s possible to claw your way out.
Like Holly and I did, the first step to taking control of your money is quickly
establishing a starter emergency fund of $1,000 (or $500 if you make less than
$20,000 a year).

Related: Learn Practical Ways to Take Control of Your Money. Order Financial
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I know. When you’re just beginning, the very first Baby Step can feel more like a
giant leap. But it’s an important leap! That $1,000 will allow you to rely on cash
when minor emergencies pop up rather than going further into debt by
borrowing more money.

The Bible encourages this sort of behavior. Proverbs 21:20 says, “In the house of
the wise are stores of choice food and oil, but a foolish man devours all he has”
(NIV).

So take your wisdom from Proverbs. Establish your starter emergency fund now.
Here are three great methods I used myself to do just that.
1. Get a second job.

A short-term, part-time job never killed anybody. Sure, you may be working 12-
hour days seven days a week, but it’s only temporary. You’ll survive! Besides just
bringing home more cash, the extra effort also generates a healthy sense of
accomplishment that propels you toward your goals faster.

2. Have a garage sale.

I’m going to take a wild guess and say you have some junk lying around that you
don’t need or use anymore. Get rid of it all by selling it at a garage sale or through
online classifieds. Bonus: Eliminating all that clutter from your life will be freeing
all on its own. (Unless they’re your beloved golf clubs. Man, getting rid of them
still kills me.)

3. Cut expenses.

Little changes can make a big difference. Consider canceling subscriptions,

adjusting your thermostat, and eliminating activities that require lots of gas
money. Maybe you can even sacrifice some luxuries like your weekly car washes
or lawn service. You might be able to do some of these yourself or hire a
neighborhood kid to do the work for less than you were paying the pro.

A $1,000 starter emergency fund isn’t out of reach for anyone. It may take some
hard work to fund it quickly, but you’ll be amazed how much better you sleep at
night when you know that you’re prepared for those curveballs life is bound to
throw your way