---
title: Building Emergency Savings
description: Life is full of unanticipated expenses whether a car repair, a new roof, or medical bills. Emergency savings can help you cope with the unexpected.
image: https://blog.craft3.org/hubfs/Home-Installatino-Newsletter.jpg
---
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# Building Emergency Savings
Published on
September 29, 2022
 
Author
Brad Ferris, Senior Credit Underwriter
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#### Life is full of unanticipated expenses whether a car repair, a new roof, or medical bills.
Emergency savings can help you cope with the unexpected without taking on costly credit card debt or dipping into retirement savings.
Saving is hard and often a long-term effort. Depending on your situation, you may not currently be able to prioritize emergency savings. But when you can, here are a few tips:
- **Start small.** It will add up and make a difference.
- **Have a dedicated emergency savings account.** This can keep your emergency savings separate and make it easier to track progress.
- **Set up an automated savings plan.** Schedule a monthly transfer from your checking account to your emergency savings account.
- **Take advantage of special savings opportunities.** If you have the good fortune to receive a tax refund, a bonus, or some other windfall, use a portion of that to bolster your emergency savings.
The advice above can also apply to building a reserve account for your business to help you handle unanticipated expenses.
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