Saving for an emergency fund is indeed difficult. Tempted a little, the funds that have been saved are used. Nevertheless, preparing emergency funds is quite important for those of you who already have income. At least, you have a reserve fund when situations outside the plan occur. Want to start preparing for an emergency fund? Let’s look at these 4 easy ways you can try the following:
1. Consistent in saving your salary portion
If you are a consistent person, you can start with each month setting aside your salary portion. Starting this method, it’s good to know in detail your budget spending in a month.
Therefore, you will know how much saving money left every month. Preparing for an emergency fund is indeed important, but don’t make yourself difficult until having deficit every month. Also, ensure you don’t always bring the debit card for saving the account, so you are not tempting to draw the cash.
2. Joining Bank Program
Nowadays, many banks offer various savings plan that your fund will be deducted in the amount you want automatically. You can draw the fund within a specific period of time from 6 months to 1 year.
3. Having Emergency Fund in Jewelry Form
This method seems to fit for women. You can also save emergency funds in gold or diamond form. Gold and diamond jewelry are investment instruments which have a stable value.
If you suddenly need some significant funds, you can resell the jewelry. As long as jewelry saved, you can still use it.
4. Making deposits
Deposits are the subtle way for unused emergency funds savings. If indeed you are having funds in your savings, you should start to make deposit one.
Savings deposits have a fair interest rate even has not too significant. But, now there are many banks present high-interest rates which give you more benefits.