17 Jan 2017   /   0 comments

How to Build an Emergency Fund Fast

Paul

In order to be successful in your personal finances, it’s important to know how to build an emergency fund fast. Building an emergency fund can feel extremely difficult especially when it seems as if you are just barely making it paycheck to paycheck. We want to provide you with resources so tasks like this don’t feel quite as difficult. We want to give you tips and tricks to overcome financial hurdles so you can give yourself and your family a prosperous financial future. We aren’t necessarily in the business of financial planning as we are a title loan lender but we care very much about financial education so we don’t wish to limit our assistance to providing loans. We have been working hard to extend our website to include multiple resource pages that answer questions of all types relating to loans, vehicles, and personal finances.

Ever since we first started in 1994, we knew we would always put our customers first. We want to see you through to financial peace of mind which requires that we use our knowledge gained from 25 years of experience to educate you, equip you, and empower you. In this resource page, we will be explaining how you can go about building your emergency fund as fast as possible even when you don’t have much expendable income.

Emergency funds are extremely important because you can never anticipate life’s unexpected financial crises. We are very aware of that truth since we help people with financial emergencies obtain title loans on a daily basis. Try out all of these great bits of advice and watch your emergency fund grow before your eyes. Or, if you are interested in obtaining a title loan from us, here at TFC Title Loans, then fill out our online application to see if you qualify!

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Practical Ways to Get a Starter Emergency Fund of $1000 in the Bank Quickly

  • Sell things that you find around your house. There are probably so many things that are gathering dust that you can do without. Convert things like kid’s toys, exercise equipment, and power tools into cash that you can throw into your emergency fund.
  • Take advantage of some one-time income opportunities. Do a few small jobs available around your communities like pet-sitting for friends who are on vacation, participate in focus groups, or do online surveys you get paid for. Then put all that extra income into your emergency fund.
  • Get a second job for the weekends and evenings. I know this is the last thing anybody would like to do but even if it’s just a month of doing pizza delivery it will be worth it because you can add all that extra income to your emergency fund!
  • Sit down and take a look at your current budget plan, then make a bunch of little cuts that you would probably barely notice but will really add up in the end. Some of these cuts might include turning down the thermostat just a degree or two, clipping some coupons for groceries, or canceling unnecessary services and memberships that you pay for monthly.
  • Don’t go out to eat so often for a while. So many Americans eat out more often than they eat in their own homes. Make your own meals for a time and brown bag all of your lunches for work.
  • To battle the rising gas prices, carpool to work and other everyday activities. Saving those dollars spent on gas can make a huge difference.
  • Save money to put towards your emergency fund by kicking some bad habits. Stop smoking, stop buying a daily Starbucks latte, or don’t go out for drinks quite so often. You might be able to save five dollars daily on that latte or eight dollars daily on that pack of cigarettes.
  • Get rid of the premium cable channels that cost a fortune or if you are feeling a bit bolder then get rid of cable altogether and rely solely on Netflix.
  • Buy used things more often than you buy new! Shopping at thrift shops instead won’t kill you. Then you can contribute a lot more cash to your emergency fund.

Do you feel more equipped to build your emergency fund now? Good, now get on with it. Those emergency situations won’t wait for you. We believe that if you can find enough motivation, you can do anything! If you are currently facing a difficult situation that you don’t yet have an emergency fund to cover then perhaps you should consider an auto title loan. Apply using our online application or by giving us a call today!

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