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This emergency arose at the perfect time, said no one EVER! We never know what trouble is around the bend.  We do know that sooner or later it will catch up with us. The big question is: Are you ready? An emergency fund is a cash cushion that makes the fall into trouble just a little bit softer.

Normally, an emergency fund is equivalent to three to six months of your expenses. It would not include discretionary spending. If you are currently in debt, I recommend that you set aside a minimum of $1000 to offset any unexpected expenses. This practice usually will help you avoid putting an unplanned expense on your credit card. Once the debt is gone you can begin to build your full emergency fund.

It Is Important to Get Your $1000 Starter-Emergency Fund in Place As Soon As Possible

Once you have your mini fund in place you can take a deep breath and start pounding your debts.

Here are some lightning fast ways to get your emergency fund in place now! You could actually get this finished in less than two weeks, depending on your situation,

1.Shop For Better Insurance Rates

Most of us get our insurance coverage and then forget about it until we need it. Meanwhile, the rates are creeping up on us, and we’ve barely noticed.

My mom made a call and was able to save over $700 on her insurance for the year on two policies! She used an insurance broker who actually shops several insurance companies to find you the best rate available. The broker works for you, not the insurance company.

I recently learned that $700 is the average amount you will save by comparing prices with different companies. You could get a major part of your emergency fund for just a few phone calls!

You should also bundle your home and auto insurance where it is available because you can easily save 15% or more by doing so. Keep in mind when shopping for homeowners insurance that you get coverage for replacement value.

The last thing you need in a disaster is to discover that your insurance will only cover the depreciated value of your belongings. Think garage sale prices. No thank you!

Now you may not get all of the money in hand immediately because your coverage will need to be pro-rated but, you will have more room in your budget to apply those savings to your emergency fund.

2. Adjust Your Withholding Exemptions Temporarily

You can reduce your withholding exemptions anytime you like by filing a W-4 form with your employer. By choosing this option you will start receiving a larger paycheck once the forms are processed.

Put this money in your emergency fund. Now this will reduce your refund next year, but that would be better than adding more debt due to some crisis lurking around the corner.  Ideally, if you begin budgeting, you would be better off using that extra money to pay down debt and not give the government an interest-free loan all year.

As you take more responsibility for your finances you will use that money more effectively yourself. If you absolutely can’t stand the idea of no refund, then be sure to refile to raise it again if you hope to have some refund at tax time.

Emergency fund fast

3. Use your tax refund to build your emergency fund.

Speaking of your tax refund,  it would be perfect to start your emergency fund! If you haven’t spent it all, you may have enough left to pay down some of your debt.

I know it is easy to want to spend it on some “bonus” item you’ve been wanting, but saving it in your emergency fund is like turning down the stress level of the next crisis.

Believe me, you will appreciate that more than the bonus item, when you don’t have to scramble to come up with the money or get out the credit card again.

4. Sell Stuff Like You’re Moving Across the World!

Sell anything that you aren’t using on a monthly basis, any “toys” you haven’t used in the last year. Like, you know, that boat you had to have! You didn’t even use it last summer, but you’re paying storage fees on it. Or those jet skis or quad. You get the idea! Anything that can bring in quick cash.

I am not saying you can never have these fun things, just that you should take care of your finances first, then you will truly enjoy them like never before!

Big Or Small, Sell It All!

Big ticket items get you to your $1000 emergency fund quickly, but even low priced items add up quickly. For instance, I once sold enough items on eBay to purchase a used Chevy Prizm! (which incidentally, I also bought on eBay!)

There are sites like Decluttr to which you can sell your DVDs, CDs, games, books, and even cell phones and video gaming systems. Get more ideas from this post about side hustles.

These are some high-yield results that will get you there in record time. These could have you at $1000 in less than 30 days–maybe only 14 days!

The point is to crush the goal of getting that mini emergency fund! You want to get that protection against financial setbacks, so you are now ready to annihilate your debt!

How long will it take YOU to get your $1000 emergency fund?

Set a record! Then let me know in the comments below!

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