We’ve all heard the savings advice that it’s best to save three to months’ worth of expenses in an emergency fund. But, that’s easier said than done.
Explore More: 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives
Check Out: Want an Emergency Fund? Here’s the Stress-Free Formula Experts Swear By
Putting away thousands of dollars can be challenging if you’re just barely making ends meet or feel you never get to do a little something for yourself. Saving a large amount of money can be daunting, but there are ways to simplify it.
Here’s how experts say you can save, even if it’s been difficult in the past.
Use an App
You don’t have to revamp your budget without any help. Annie Ma, the head of savings at Oportun, which prioritizes giving affordable loans to those with a limited credit history. She recommended using one of the many financial apps on the market to give your savings journey a boost in the right direction.
“Our members have found that using an app that intelligently automates the process makes saving easier,” Ma said. “They just link their checking account, and the app does the math and money transfers to their savings account for them. Then, it’s ready in a pinch for any emergencies.”
Read Next: Clever Ways To Save Money That Actually Work in 2025
Automate Your Savings
Think about what would be a comfortable amount — no matter how small — you could start to funnel into savings. Once you’ve decided, Ma recommended making that an automated payment every month.
“Automation is the key to success. With your goals and buckets in mind, begin putting away a little bit at a time on a regular basis,” she said. Ma added that saving over time will also help compound the interest you earn on your savings account.
Increase Your Contributions
Once you’ve saved at a certain amount for a while, you might consider raising it slightly. It doesn’t have to be by a lot, but even a little can make a big difference in how much you save.
“As your income goes up, increase your transfer by 0.5[% to] 1% every month so you don’t feel deprived, but your expenses gradually get smaller,” said Gor Gasparyan, co-founder and CEO of Passionate Design Agency.
Transfer Unexpected Cash to Savings
It’s an awesome feeling to receive a little bit of extra money you weren’t expecting. Though it might feel like a time to splurge, Melanie Musson, a finance expert with Quote.com, said any extra income should go into your savings account.
“When you get a tax refund, put it in savings. If you get a cash holiday or birthday gift, put it in savings. If you work overtime, put your increased income into savings,” she noted.
More From GOBankingRates
- 9 Costco Items Retirees Need To Buy Ahead of Fall
- 5 Ways 'Loud Budgeting' Can Make You Richer, According to Vivian Tu
- 6 Big Shakeups Coming to Social Security in 2025
- 8 Common Mistakes Retirees Make With Their Social Security Checks
This article originally appeared on GOBankingRates.com: Tips To Begrudgingly Build an Emergency Fund–Even If You Struggle With Saving
