Having an emergency savings fund can give you peace of mind when the unexpected occurs. For example, it might help you pay for repairs when the family car breaks down, or cope with a sudden loss of employment. However, savings accounts don’t build themselves. It requires planning and purposeful spending to get an emergency savings set aside. By following the tips below, you will be on your way to building your emergency fund. Make savings a part of the monthly budget. You may already have a monthly budget to account for rent or mortgage payments, utilities, food, and other essential expenses. When calculating this budget, include an amount you are comfortable setting aside for your savings and treat it like a utility payment. Keep a change jar at home. Small change can make a big difference when you take the time to collect it. If you pay for purchases in cash, keep the change and deposit it into a change jar at home. After a few months, make a deposit with that change into your savings account. You may be surprised at the difference it makes! Cut out small purchases. If it feels like there isn’t much wiggle room in the budget to start saving, take a close look at your daily purchases to see where you can cut back. For example, that daily coffee stop might become a weekly treat instead. Cooking at home and repurposing leftovers can also cut down how much you spend in your food budget. Talk to your bank about higher interest savings accounts. When you are ready to start saving, make an appointment at your local bank to discuss the types of accounts available. You may be eligible for higher interest accounts that will multiply your savings faster. For banking customized to your needs, connect with Mountain Valley Bank. As a small, local bank serving Steamboat Springs, CO, their pride is customer service along with a wide range of products to serve all customers in this Colorado community. You can learn more by calling (970) 870-6550.