Most people know they need to save money for emergencies, but many don’t have a solid plan to make that happen.
That will vary depending on your circumstances, but a good rule of thumb is to have three to six months’ worth of living expenses saved.
A budget will help track your spending and ensure you’re putting enough money towards monthly savings.
Automating your spending is a great way to ensure that you’re consistently putting money away for your emergency fund without thinking about it.
Take a close look at your discretionary spending and see if there are any areas where you can cut back.
In addition to saving money, investing in yourself is essential. That may mean getting a better-paying job or finding side hustles that generate extra income.