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3: Analyze Your Circumstances

Use Windfall Money

Falling cash

Here are a few more ideas for finding money to put toward your emergency savings:

  • Coupons and rebates. Do you take advantage of coupons and product rebates? Sure, $5 here or there may not seem like a lot, but it can add up. Be sure to send in product rebate request forms and deposit the rebate checks into your emergency savings account. 
  • Tax refunds. Build up your emergency fund by tucking some of that tax refund into savings. Even a modest amount — as little as $500 — can help soften the blow of the typical unexpected expenses.
  • Raises and bonuses. If you were doing OK before you got a pay raise or bonus, deposit that extra money into your savings to help build up your long-term emergency fund.
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