Build an ongoing amount for emergencies like spare tires, home repairs, unemployment, urgent medical procedures, and more.
Keep it separate from your normal expenses and if possible, keep it in a separate account. This way, you are also building flexibility to your budget.
The first step to building your emergency fund is to create a budget.
For more budgeting tips, get in touch with our professional budgeting coach today. Call 1300 98 38 61 or email info@sortmymoney.com.au to know more.