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• Begin with a small, regular amount that you know you can commit to and do it as planned.
• Save parts of extra funds such as income tax refunds and sur- prise rebates. If you receive a tax refund or Earned Income Tax Credit, use a portion of this money to begin or increase savings. Since the Tax Credits average nearly $2,000, you may be able to open a savings account and still have plenty of money to pay off debts or cover other expenses.
• Put your loose change in a container on a chest or dresser and deposit those funds in your savings account on a regular basis. Americans typically save more than $100 in loose change each year. Use this change to open and grow a savings account.
• If you are making payments on an automobile, complete the payments and then begin paying the same amount each month to your savings account.
• When you get a raise at your employment, save a portion of the new increase.
• Save all or part of special gifts such as birthdays or holiday cash gifts.
• Sell items that no longer have any use or value. Place the pro- ceeds in savings.
• Save “extra” income such as overtime or work bonuses.
• Adopt a daily amount as the amount you will save each day, such as “a dollar a day”.
• Each month eliminate one non-essential item and save the money normally spent, such as movies, videos, or going out for dinner.
Building an emergency fund may be easier if you involve your whole family in meeting this challenge. After you’ve explained the importance of emergency savings to your spouse or children, they may even help build the account. And, they will be more likely to understand why
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