Many people were completely unprepared for the financial impact of covid this past year. Unfortunately, a pandemic is MUCH less likely than more common financial emergencies, like the loss of a job, unexpected medical expenses or a major auto or appliance repair. Fortunately, thinking ahead and having an emergency fund can help prepare you for the unpredictable.

I’m here today with Lynette Matt, Wilton Branch Manager of the Adirondack Trust Company, who’s going to share 5 easy ways to get moving on starting that emergency fund today, even if things are tight.

HAVE A PLAN. Plan to put aside 3-6 months of expenses for your emergency fund. This is a good rule of thumb.

START STRONG. We recommend depositing $500 – $1500 to get your emergency fund started. If that feels overwhelming, try selling some of your unused things on sites like ebay or Facebook marketplace. Do you have any old sports equipment, furniture, toys or electronics that are no longer being used? Time to purge! You’ll feel great momentum right out of the gate!

MAKE IT ROUTINE. Set up the automatic transfer of even a little bit of money per month. Then forget about it!

EXAMINE THOSE BILLS. Chances are, a small tweak to your television or phone service could save you money! Roll those savings right into your automatic deposit schedule.

SAVE THOSE SURPRISES! Have an unexpected refund or rebate? Perhaps a little cash in a birthday card? Immediately deposit these “bonuses” right into your emergency fund… you’ll never miss them!

Stop by any of the Adirondack Trust Co. Branch Locations and they’ll be happy to help you get your emergency fund started today!