Does your life as a father always run to plan? Didn’t think so. Of course, no one is charmed with a perfect life, but as a dad, it is often your responsibility to rescue others or sort out problematic situations, including financial ones, as they arise. That is why it’s essential that you have an emergency fund, and the post below will take you through some ways of starting to build one.
Long term savings
The most straightforward way of starting up an emergency fund is to set up a direct debit from your personal account for just after your wage get paid in. Of course, what this will do is make sure that the money is automatically transferred without you even having to think about it. Something that means you can just leave it there and forget about it until you need it.
Of course, you do have to choose the right kind of account for your emergency fund. In particular, look for higher interest rates, but steer clear of options that have a wait time to withdraw your money. After all, it won’t be much use for emergencies if you can get to your cash for a week or more!
A super quick option
Not every dad has a savings account set up, but that doesn’t mean they won’t come across a situation where they will need quick access to a substantial sum of money. After all, kids are great at forgetting to tell you about school trips, losing or breaking their phones, and even growing out of shoes at a rate of knots!
Luckily, there is a solution for dads that find them solve it such a situation and it’s to visit loanatlast.com or another fast loan site like them. In fact, such sites will often let you borrow up to $1000 and allow you to pay the money back flexibly without additional charges. Something that makes them a great option in an emergency.
Another quick option is to sell unused or unwanted items to raise the money that you need. Of course, this isn’t like to be as fast as going for a loan unless you take your piece to a pawn shop. Although, the price you are likely to get there will be lower than on the commercial market.
It’s not all bad news with this option; however because there are plenty of places online like eBay.com that you can sell items quickly for a profit. Also, if you kids see you having to get rid of stuff to pay for things they need, they might even be a little more careful with their game console or phone the next time around. Well, we dads can hope, anyway?
Finally, another longer-term option is to build an emergency fund by taking on a side hustle. Something that can work particularly well if you haven’t got too much left over to save, once you have paid your bills.
In fact, if you can find a side hustle that is fun as well as profitable, this can work doubly well. Something that makes this option perfect for dads that are looking to keep a pot of money separate for financial emergencies.