Having an emergency fund is crucial for financial stability and peace of mind. Unfortunately, many people struggle to establish or maintain this important savings account. Whether you’re starting from scratch or looking to boost your existing emergency fund, there are plenty of ways to kickstart your savings and protect yourself against emergency expenses. In this article, we share 10 ways to kickstart your emergency fund.
10 Ways to Kickstart Your Emergency Fund
1. Kickstart by Delivering Pizzas
Pizza delivery is usually filled with transient workers. Pizza shop owners, especially from large national chains are accustomed to drivers coming and going. And while I wouldn’t announce that when applying you don’t have to make a long-term job commitment to deliver pizzas and you can make about $1,000 per month if you work evenings. Ball out for a couple of months and you’ll have your emergency fund. Pizza delivery is helpful for a short-term infusion of income but be careful doing it for the long term as the payback vs the wear and tear on your personal vehicle is questionable.
2. Driving for Uber or Lyft can add to your emergency fund fast
A traditional job has typical time restraints but when you drive for Uber or Lyft you can do it on your schedule. Unlike pizza delivery, the payback vs the wear and tear on your vehicle calculation is closer to profitable. Still, it is a great option for short-term cash infusions you can use to kickstart your emergency fund. Uber and Lyft are 2 popular options.
As of 2023 Uber drivers can make up to $50 per hour depending on their location and strategies according to The Ride Share Guy. However, expect to start out making around $20/ hour.
3. Mow Lawns
Another of our 10 ways to kick start your emergency fund is lawn mowing. It is common to charge $40 to $75 per lawn depending on size and complexity. Not bad for about an hour or a little more. Sneak in 5 lawns each weekend for a month and you’ve got a minimum of $1,000 to kick-start your emergency fund. Here are some great ways to find mowing opportunities in your area.
- Post business cards a the grocery, hardware store, library, and anywhere else with a bulletin board.
- Check offers listed on Craigslist.
- Knock on doors in your neighborhood
4. Grocery Delivery
If you like delivery work options but want the flexibility of your own schedule consider Grocery delivery with Instacart. Once again, similar to pizza delivery and Uber/ Lyft you should be careful to weigh the compensation vs wear and tear on your vehicle when considering long-term options. But this article is about kickstarting your emergency fund and if all you need is $1,000 for your emergency fund fast you can do that with Instacart if you are willing to commit about 2 months to it.
5. Sell Unwanted Items on eBay
Do yourself a favor and take a look inside your garage and closets with a critical eye. The stuff you are so used to looking at but never use has a way of hiding in plain sight. Take a second look and open an eBay selling account. I’ve sold on eBay for years when I have a few things laying around that I’d like to turn into cash. Let me tell you, people will buy almost anything on eBay. It isn’t doing you any good laying in the garage. List it and sell it.
Tips for Selling on eBay.
- Take actual photos of your item. Don’t use stock photos from the internet just because your item is the same model and brand etc.. People trust original photos from a real humans and gravitate to those auctions.
- Give the most verbose product descriptions as you can. People love the details.
- Price it to sell! It isn’t doing you any good laying in your closet. You were overlooking it for a couple of years anyway. Search the price of similar items on eBay and price your item to sell. It will sell more quickly and you’ll have your cash headed right for your bank account.
- Communicate with the person who bought your item. You’ll be more likely to get good feedback and build your seller equity.
6. Commercial Cleaning
Since you probably have a traditional day job your normal 8 to 5 hours are likely already spoken for. The best thing about commercial cleaning is that it often needs to be done after work hours making it a great side hustle to kick-start your emergency fund. You can find commercial cleaning jobs just by looking on Indeed or Simplyhired.
I know cleaning is not the most fun but when you need to kick start your emergency fund fast you can make $15 – $20 per hour cleaning commercially.
7. Sell Your Skills
Accounting, Art, Music, Coding, and Graphic Design are just a few of the skills you can use to make some extra cash fast. Freelance your skills to make some extra cash.
- Fiverr lets you score some great freelance work across dozens of skills and categories.
- Upwork is a great option to get freelance work.
- Are you a graphic designer? Design Crowd lets you use your skills in a freelance environment.
8. Hold a Garage Sale to kickstart your emergency fund
The ol’ standby but certainly worth your effort. A garage/ yard sale is a reliable way to clean out your closets and storage areas and turn them into cash on a single Saturday. The average garage sale can make between $500 and $1,000 according to the folks at Money Under 30.
Keys to a Good Garage Sale
- Don’t get greedy! It is currently rotting in your storage shed so something is better than nothing. Price it to sell!
- Display it nicely. Properly displayed, your items will sell better and make more money.
- Signage! Write your signs with a broad tip marker large enough to be easily read from a distance by passing cars. I can’t count the number of garage sales I’ve passed by because the signage was an afterthought. Use a lot of signs, make them easily readable, and place them well and you will have much better attendance.
9. Put Some Plans on Hold
Let’s be honest. If you need money to kickstart your emergency fund you probably shouldn’t be taking an expensive vacation or making big purchases. So put those plans on hold and assign those dollars to your emergency fund instead.
10. Tutor or Teach Online
Instead of selling skills, sell your know-how. Take advantage of your knowledge by tutoring your strong subjects or teaching English online.
- Tutor.com offers opportunities to start tutoring quickly.
- Believe it or not, Care.com offers tutoring opportunities.
- Here are 8 of the best teaching English online companies to work for.
Final Thoughts
Emergency funds are a key aspect of your debt-free planning. They keep you from taking on more debt and making some common money mistakes. But saving that first $1,000 can be a challenge if your income is struggling. Our 10 ways to kick start your emergency fund should get you started toward saving for this important fund.
The bottom line is that saving an emergency fund and paying off your debt can be a challenge. It takes some energy and dedication to get the job done. But if you are committed to becoming debt free and changing your future for the better, you’ll have no trouble putting in the effort. Once you start, the moment builds little by little on its own. The key is to start now!
