Your first goal: a starter emergency fund

Six months of expenses can feel impossible. A starter fund of $500 to $1,000, or one month of essentials, covers many common emergencies and builds the habit.

Why start small

• Many surprise bills are a few hundred dollars
• Reaching a goal quickly keeps you going
• It stops new debt while you work on the bigger fund

Get there fast

1. Pick your starter number and write it down
2. Open a separate savings account so it isn't mixed with spending money
3. Set an automatic transfer for payday, even a small one
4. Add one-off money: a refund, a sold item, a bonus

General educational information, not financial advice. Penny Vaults isn't paid by any bank or lender.