(MoneyHippo.com) – Building an emergency fund into your budget can protect you from financial disaster and crushing debt from unforeseen circumstances, such as a car breakdown, unemployment, or a health crisis. Experts recommend saving enough to cover up to six months of expenses. That number might initially seem daunting, but focusing on these three key aspects can help you succeed.

1. The amount: Accruing savings worth half a year’s expenses doesn’t mean you have to include everything in that number. Consider saving for only the bare-bones essentials and cutting luxuries like cable, streaming services, meals out, or expensive smartphone plans.
2. The place: Keeping emergency funds intermingled with everyday money might make it too easy to spend your savings accidentally (or purposely). Instead, consider keeping the money in a separate account — maybe even a different bank altogether. A high-yield savings account could help the fund snowball.

3. Building: Growing rainy day money is as simple as making it a regular expense in your budget. Determine how much you want to save, break it down into monthly bits, and set up your account to move that amount automatically into your emergency fund account. 

Building up a nest egg might not be fast, but it doesn’t have to be difficult, either. Start from wherever you are right now. Every dollar saved is worth it!

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