January 18, 2021

Setting up your emergency fund is one of the first steps to reaching financial f…


Setting up your emergency fund is one of the first steps to reaching financial freedom.⁠

Here are 4 tips to help you get started.⁠

1. Selling useless crap you have laying around at home gathering dust is a great way to kickstart your savings.⁠

2. Using an ‘HYSA’ ensures you are getting a better interest rate than most brick and mortar banks. Let’s remember that the purpose of an emergency fund is not to beat inflation. So it only makes sense to keep it in a savings account and not invest it!⁠

3. Getting a side job and/or extra hours allows you to bring in more income to save.⁠

4. Automating your savings is the best tip on this post IMO. When you set up auto-transfers to your savings accounts, it makes saving a breeze! ⁠

Would you add any other tips?⁠

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Follow @spacecitymoney for more 🚀⁠
Follow @spacecitymoney for more 🚀⁠
Follow @spacecitymoney for more 🚀⁠

Share with a friend! 👩‍💼👨‍💼⁠

⚠️ I am not a financial advisor, the information provided is for educational and/or entertainment purposes only. ⚠️⁠

#SpaceCityMoney ⁠
#financialfreedom #daveramsey #debtfree #debtfreecommunity #firecommunity ⁠
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