Experts say that you should have an emergency fund in savings that can cover up to three months of bills if something were to happen where your cash flow is halted. Whether that’s losing your job, getting injured at work or having baby. Check out some easy ways to grow your emergency funds.


  • Open a Savings Account
    • The first step in starting your emergency fund is opening a savings account. Check local banks, or credit unions, to see what kinds of interest you can earn and choose the one that works best for your lifestyle. Make sure to check out the balance requirements and any fees associated with the account so you are prepared if you see any charges on your account.


  • Save your pocket change
    • Using mostly cash and putting all of the pocket change in a piggy bank, bowl or jar is a quick and easy way to save money. Most banks have a coin exchange machine that will count all of your change for you and you can then deposit it into a savings account.


  • Set up a Direct Deposit
    • When you set up your direct deposit through work you can also set aside some of your paycheck to be directed into a savings account. This way you don’t even think about saving, you don’t see the money before it’s transferred so it’s like it wasn’t there to spend. This can keep you from using the money for something else, it just automatically gets saved!


  • Set up an automatic transfer
    • If you don’t want to change or set up your direct deposit you can set up an automatic transfer through Online Bill Pay. Set it up monthly so that you don’t have to think about moving money, it will automatically do it for you. Check with your bank about setting up automatic transfers.


  • Open a Certificate of Deposit
    • A Certificate of Deposit is a quick way to earn more interest on your money than in a regular savings account. If you’re not going to use the money for awhile then putting it into a CD will be better in the long run for your funds. However, make sure it’s money that you won’t be using because there could be fees for early withdrawal.


If you have more questions about how to save, check with a banker and they’ll be able to help you figure out what works best for your lifestyle.