Emergency Funds and Couponing can help you save.

It's always at this time of the year that we have a hard time, things are slow and getting back on our feet from the holidays is slow going, so I thought I'd take a break from reviews with a guest post from Elsie Brown, she is an author who writes guest posts on the topics of business, marketing, credit cards, and personal finance, I thought this just might be of help to all of us. Welcome Elsie to the Purple Jelly Bean Chair and thank you for being with us today!

Do You Have an Emergency Fund? How Couponing Can Help You Save for Your Future

So many people don’t think about or plan for their financial future until it is too late. The growing popularity of payday loans and using credit cards to get by week to week only proves that people aren’t taking the time to educate themselves about their personal finances. Having an emergency fund is a great way to avoid these financial mistakes.

It has been advised by many financial experts that every household should have at least six months’ worth of expenses saved in an emergency fund. This amount of money would definitely come in handy should you become ill, have an accident, or lose your job. You never know what your future holds, and a decent emergency fund could help you with those unexpected expenses.

There are many ways you can save this significant amount of money, though it may take a while. Maybe you have the luxury of making more than you need to spend now, and you can put away that extra income to save for an emergency fund, retirement, or that long awaited vacation. However, many people don’t have this luxury, and they need to find a way to save for this important financial pillow. If at all possible, you should start saving a specific amount of money each month and budget with the money you have left to cover your other expenses. When this is not possible, you will have to find ways to save money on the things you buy each month.

Couponing

Couponing is a great way to save money, no matter what financial situation you are in. Saving a dollar or two at the grocery store may seem like a little now, but when you add all of your savings up at the end of the year, the total may surprise you. In order to make this savings work for you, you should keep track of your total savings on each shopping trip, and then you can put the amount you saved into your emergency fund.

With couponing, you will find that you get out of it what you put in. If you only have an hour or two to find the coupons you need, that’s fine. However, you will find that you save much more if you spend more time working on your couponing strategy. It isn’t necessary to quit your job or become one of those extreme couponers you see on TV, but more effort on your part will result in more savings for you and your family.

Lowering Household Expenses

Another way you can save money to put into an emergency fund is by lowering your household expenses. There are truly countless ways to do this, but the most effective will be saving on your electric bill. When you make the effort to turn off the lights, wash your cloths in cold water, and switch to low energy light bulbs, you will see the difference in your bill. Some other ways you can save energy are unplugging appliances that aren’t being used (especially your television), filling up your refrigerator and freezer, and setting the thermostat a little lower in the winter and a little higher in the summer.

Eliminating Unnecessary Costs

There are also some expenses that you may not necessarily need. If you are looking at financial trouble in your near future, it may be time to eliminate those unnecessary costs and start saving for a potential emergency. Some of these costs may include your cable bill, Netflix, or expensive extra phone services. You may need to take a hard look at your monthly expenses and see what you can live without for a while until you are back on your feet.

Elise Brown is an author who writes guest posts on the topics of business, marketing, credit cards, and personal finance. Additionally, she works for a website that focuses on educating readers about payday loans.