How to Start Your Own Rainy Day Fund

We've all heard the money experts say that we need an emergency fund, and nobody's questioning the wisdom of that sage piece of advice. But how do you find money to sock away when it seems there's barely enough to make ends meet as it is?

Following are a few ideas that worked for me and they just might work for you too, or at the very least inspire some other creative avenues of thinking that will put you on the fast track to savings.

Prices are Never Written in Stone

Don't be afraid to call your monthly service providers to ask for a better rate. The worst they can do is turn you down, and it's the only way you'll ever know for sure if you can get yourself a better deal. I was recently able to get a $10.00 service credit for 6 months on my satellite package just by calling my provider and letting them know that their competitor was advertising heavily in my neighborhood, and that I was considering making The Switch. There's $60.00 headed straight to my emergency fund.

Another phone call to my internet service provider resulted in a reduction of $5.00 per month with absolutely no changes to my plan, also going to my emergency fund.

One simple phone call to my cell phone company netted me the knowledge that I was eligible for a 10% discount simply because I belong to a credit union. My savings? $6.50 per month. (Bet you can guess where they're going...)

Spend Less, Save More

Utility bills are another area where the savings are ripe for the pickin'.

By unplugging a second refrigerator that was seldom used during the winter months, and being merciless when it came to turning off all unecessary lights, I was able to shave about $15.00 off the cost of my electric bill over the course of three months. ( I suspect it was substantially more, but I'm going with the conservative estimate because I'm in no mood to fool around with killowatt hours.)

Why Pay for Something You Can Get For Free?

Most newspapers have websites these days. Taking advantage of them is another excellent way to come up with some extra cash for your stash. By cancelling my print subscription and reading the news online, I found an extra $17.80 per month for my emergency fund.

Everyone Needs a Change Jar

Keeping a change jar is one of the simplest ways to beef up your budget by 30-40 dollars per month. It's painless and really adds up quickly! Just by tossing all of my loose coins into my giant pickle jar every night, I was able to add an additional $35.00 to my emergency fund last month.

Saving money is nothing more than a mindset, really. And once you get into it, it can actually be a lot of fun! When we begin to train ourselves to think creatively and stop seeing the little things as insignificant, we begin to see how quickly all of those small savings do add up. There are no limits to the things we can do to save more of what we earn. Just by implementing these few simple tips outlined above, you can do the math and see for yourself that I was able to add a total of $139.30 to my emergency fund! While all of these savings may not be immediate, and some are one-time savings, it's a simple illustration of a few ways you can get started on your emergency fund...and I'm sure you can think of many more!

So what are you waiting for? Start slashing your costs and stashing your savings away!

Happy Saving!