Putting the FUN in Emergency Fund

UNexpected times call for a fund that always has your back!

  Become a Savings Boss

Do you feel prepared for those UNexpected obstacles that life likes to throw at you? Imagine this: it’s the middle of Iowa’s blistering cold winter, and just when you need it most, your furnace decides to call it quits. When life happens, don’t kick yourself for not being prepared. An emergency fund is a friend indeed when you’re in need!

    Your Financial Superhero

For life’s UNexpected plot twists, like UNexpected home repairs, and UNforeseen vet visits when your dog eats your favorite pair of socks, an emergency fund is your financial superhero, there to swoop in and save the day.

It’s all about being ready to rock when the hard times roll.  Thoroughly planning your monthly budget prepares you for the curveballs that come out of nowhere! Your emergency fund bestie’s got your back for those surprises you never see coming.

It Just Takes a Little Preppin’

Never dive head first. Begin with as much moola as you deem fit when starting your fund; just don’t force more than you can afford and leave yourself UNprepared for your monthly bills and expenses. The slow build of your emergency fund might feel daunting at first, but it’s a step towards your goal of being ready for anything life throws at you! Once you’ve gathered the first portion of your fund, start to beef it up. 💪 Aim to save for a couple months’ worth of expenses. After you’ve saved your goal amount, continue building your fund and increasing your goal, small steps at a time. Your savings possibilities are UNlimited. 

Secret Saving Hack

By now, you could consider yourself a savvy saver! Here’s the secret sauce to building that emergency fund like a boss: Keep the money you want set aside out of sight (and out of mind) by making it do a little dance 💃 straight from your paycheck into your savings account, all on its own by divvying up your direct deposit. Your new savings will make you feel so good, you’ll be doing the electric slide and patting yourself on the back for having a solid emergency fund. Who said saving money couldn’t be fun?

Here are some steps to get you started:

• Set an initial goal you want to reach (example: $1,000).
• Identify how much you need to set aside from your paycheck each month to reach that initial goal.
• Once you’ve reached your first savings goal, focus on growth!
• A good rule of thumb for a fully funded emergency fund is 3-6 months’ worth of expenses.
• Once this goal is reached, continue saving to your heart’s content!

If you’re already starting to think of ways to build your emergency fund, consider moving it over to Community Choice where you can create customizable Savings Accounts! Easily move your money where it needs to be, including your emergency fund.

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.