Tevan Asaturi Shares Ways to Build an Emergency Fund

Life throws surprises at us all the time. Some are awesome, like a raise at work. Others? Not so fun—like a sudden car breakdown. Having an emergency fund is crucial for this reason.

Tevan Asaturi, a finance expert, believes everyone needs an emergency stash. It keeps you from stressing when unexpected costs hit. But how do you actually save? Don’t worry! Here are realistic, simple ways to build an emergency fund, straight from Tevan himself.

Why Bother with an Emergency Fund?

Before we jump into saving tips, let’s talk about why it even matters.

• Less stress – Knowing you’ve got backup cash makes life easier.

• No drowning in debt – With savings, you can skip loans and credit card headaches.

• Peace of mind during job loss – If you ever lose your job, this money can keep you afloat.

• Covers surprise bills – Car trouble, medical emergencies, or home repairs won’t feel like disasters.

So, how do you build this safety net? Let’s break it down.

1. Start Small, But Just Start

Tevan says, "The hardest part is getting started. Just begin, even with a tiny amount."

• You don’t need to stash away hundreds right away.

• Even $5 or $10 a week adds up over time.

• The trick is to start today and stay consistent.

Quick Tip:

Aim for $500 to $1,000 first. That’s enough to handle most small emergencies.

2. Keep an Eye on Your Spending

You can’t save if you don’t know where your money’s going.

• Track every dollar you spend for a month.

• Look at your list and cut out unnecessary stuff.

• Put that extra money toward emergency savings.

Easy Ways to Save:

• Make coffee at home instead of buying pricey lattes.

• Cook meals instead of ordering expensive takeout.

• Ditch subscriptions you don’t actually use.

3. Open a Separate Account for Savings

Keeping emergency money in your regular account? Big mistake.

Tevan suggests opening a separate savings account for emergencies. Here’s why:

• You’re less tempted to spend it.

• Some banks offer high-interest savings accounts, so your money grows.

• You can set up automatic transfers to save without thinking about it.

4. Automate Your Savings

It’s easy to forget to save. Or worse, spend what you meant to save. The fix? Automation.

• Set up automatic transfers from checking to savings.

• Choose a set amount—$20, $50, or whatever works for you.

• This way, you’re saving without any effort.

5. Put Extra Money to Good Use

Got a bonus, tax refund, or unexpected cash? Don’t blow it all!

Tevan recommends saving at least half of any extra income.

For example:

• Get a $1,000 bonus? Save $500, enjoy the rest.

• Receive a $2,000 tax refund? Stash $1,000 for emergencies.

It’s an easy way to grow your fund without affecting your budget.

6. Sell Stuff You Don’t Need

Take a look around. Got things collecting dust? Sell them!

• Old clothes, gadgets, or furniture can bring in cash.

• Use sites like eBay, Facebook Marketplace, or Craigslist.

• Put that money directly into your emergency fund.

It’s painless. Plus, you declutter your space at the same time.

7. Cut Back on Unnecessary Spending

Tevan says, "Most people can save just by cutting out small, pointless expenses."

Think about these money-drainers:

• Eating out too much – Try home-cooked meals instead.

• Buying name brands – Store brands work just as well.

• Subscription services – Do you really need all of them?

• Impulse shopping – Before buying, ask yourself, "Do I need this?"

The money you save? Straight to your emergency fund.

8. Make Extra Money

Need to save faster? Earn more on the side.

• Freelancing – If you have a skill, someone will pay for it.

• Driving for Uber or Lyft – Extra cash on your schedule.

• Selling handmade crafts – Got creative skills? Sell your work online.

• Pet sitting or babysitting – Easy cash without much effort.

Whatever you make, send it straight to your emergency fund.

9. Set a Clear Goal

Tevan Asaturi says, "Saving is easier when you have a target."

Decide how much to save and by when. Example goals:

• Save $1,000 in six months by putting away $167 per month.

• Build a three-month safety net in a year.

You stay motivated and on course when you have a defined aim.

10. Be Patient and Stick With It

Saving takes time. But don’t stress. Just keep going.

• Start small and stay consistent.

• Celebrate little wins—first $100, then $500, then $1,000.

• Remind yourself this fund is your financial safety net.

Final Thoughts

Tevan Asaturi knows that anyone can build an emergency fund—no matter their income. It’s all about small steps, smart habits, and dedication.

Start today. Follow these steps. Your future self will thank you.

FAQs

1. How much should I save in an emergency fund?

Start with $1,000, then aim for three to six months of living expenses.

2. Can I use my emergency fund for vacations or shopping?

Nope! Only for real emergencies like medical bills, job loss, or urgent repairs.

3. What if I have no extra money to save?

Start small. Even $5 a week adds up. Find ways to cut costs or make extra cash.

4. Where should I keep my emergency fund?

A high-interest savings account is a great choice. Your money stays safe and earns a little extra.

5. How long does it take to build an emergency fund?

It depends. If you save $50 a week, you’ll have $1,000 in five months.