Uncertain Times: 21 Tips to Boost Your Emergency Fund

Save Your Raise

Most American workers prefer adapting to an increase in income in favor of saving. And we can’t blame them, either. Months and years of hard work are finally getting noticed with a raise? It’s only natural that you’d want to splurge or something or ‘upgrade’ your lifestyle.

You should hold off on that, though. Instead, invest in your future by putting a portion of the money towards your emergency savings account. Some financial experts even say you should save at least 33% of your raise. The sooner you do this, the easier it will be for you to adjust.

If you upgrade your lifestyle first and then downgrade back so you can start saving, you’ll find it ten times more difficult.

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