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Tip Store: Finances: Emergency Fund

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Earning Interest on Your Emergency Fund

​It is hard to find accounts that give any interest on accounts that are easily accessible. Once I had my emergency account, I found that by adding $20 a month I would get around $1.50 a month bonus interest. Not a lot, but in a year it is $18. Every bit adds up.
Contributed by Ann Green
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Building Six Months of Expenses

​Someone suggested that an emergency fund should be six months of expenses. The way I am achieving this is to pay extra each month on my bills until there is enough to cover each bill for six months. For example, if a bill is usually $50 a month, build this up to have $300 credit. One advantage of doing this has been I never miss out on the pay on time discounts. This system may not suit everyone.
Ann Green
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  • Home
  • Member Hub
    • Getting Started
    • 31 Days of MOO Hub >
      • MOO Month 2026 Learn to Make Your Own and Save
      • How to Learn to MOO
      • 2026 Daily MOOs
      • 31 Days of MOO Forum
      • 31 Days of MOO Index
    • SUPER SHOPPER 2026 >
      • Super Shopper 300 a Month Challenge
      • Weekly Challenges
    • No Spending Month
    • Handmade Christmas Hub >
      • Make It Monday
    • Articles
    • How to Build Your Stockpile >
      • How to Build Your Stockpile Part 1
      • How to Build Your Stockpile Part 2
      • How to Build Your Stockpile Part 3
      • How to Build Your Stockpile Part 4
    • Take A Pause
    • Budget Renovations
    • Saving Stories
  • Recipes
    • Recipe File Index
    • Meal Plans
    • Back to Basics >
      • Back to Basics
      • Simple Bulk Pasta Sauce
      • Back to Basics Ep 1
    • Add a Recipe
  • Saving Money
    • Member Wins Money Smiles
    • LATEST TIPS 2026
    • Cheapskates Tip Store
    • Tip Sheets
    • Bill Paying System
  • Forum
    • Current Forum Discussions
    • How to Use the Member Forum
  • Newsletters
  • Join the Club
    • Why Members Come Back
    • Twenty Reasons to Join the Cheapskates Club
  • Contact
    • Changing Details
    • About Us >
      • Cath's Story
      • Ask Cath
      • Glossary of Cheapskating Terms
    • Help Files >
      • Help File TOTD