How to Build an Emergency Savings Fund in 3 EASY STEPS!

In this video, I share why it's so important to have emergency savings and the 3 simple steps to set up your emergency fund, including how to determine the amount to save each month, where to keep the money, and the easiest way to stay consistent and disciplined. I hope it's helpful.

As always, thanks so much for watching!

Disclaimer: I am NOT a finance professional. I am simply a self-taught personal finance geek who is super passionate about educating others to feel empowered and confident in taking charge of their money.

[maxinezanfardino]

I can remember my friends being horrified by me wiping out 3/4 of my savings account (savings since I was 12 and had started babysitting) to completely pay off my student loans. Five years later, I had completed a grad degree with no debt, had way more disposable income and savings and they were still paying off their student loans. I had a plan and stuck to it. I was dating my now husband and he helped me some with groceries, dinner out, etc bc he has always been very fiscally conscious and was happy to see me getting rid of debt. When we'd go out to dinner, I'd immediately divide the meal in half for the next day. Stuff like that. My boss knew what I was doing and would send me out to drive throughs to pick up lunch for him and would tell me to get lunch for myself as well and to keep the change as gas money. And then he'd make me claim mileage. ❤

[mimvlog]

Hannah! Please make more videos like this one! So informative and helpful!! I just opened a high yield account thanks to you-- (and I automated my transfers!) 🙌🏼

[deedeeb]

I love how you are giving financial information and every now and then a little fashion delicacy. It gives me peace at the end of a long day of work. Seriously though this is very good info because you broke down the rule of money: take care of your necessities, save for the future you, but enjoy the fruits of your labor now. Nice job!😊

[rebeccanoegrosso]

Thank you so much Hanna. I've been pondering a high yield savings. Blessings to you and your family 🌺🕊

[beverlybaluyot]

I love this video! HYSF is a must and definitely needs to be automated.. the feeling of looking at your savings at end of year is very satisfying and that feeling of taking care of yourself financially is ✨✨

[sobe]

Thanks for the info, this is so easy to follow and to get it done! I’m sharing this video with the young adults in my life! 👏

[fayefranchesca]

Thank you for your finance videos. I just want you to know that I really appreciate it. I'm here for the luxury and finance too. You actually gave me(and husband) a push to actually open a 529 account for our kids. My husband is really conservative with money and I sent him your video talking about it and we decided to open one rather than keep it in a regular savings account. I just want to affirm you that you are helping people with these videos. I wish you well and take care. 😊

[ArizonaprincessM]

Thank you! Thank you! I took advantage of the Capital One, 10 month CD rate… thanks for the heads up! 🙏 ❤❤❤

[janishani]

Endlessly, I am so super, duper, utterly grateful for you 🙏🏽🧡

[agentbagreviews]

Love this video! I have my “Not My Money Account” which is in my high yield account. I don’t even consider that that’s spendable. Thankfully I have back up accounts. Wonderful advice!

And if people read this comment don’t forget that you have to report your CD earnings to the IRS at tax time. A statement should come from the institution

[margaretbrett]

Great video, always on point with your advice, thanks for sharing ❤

[Fabulousafterforty]

Hannah….what are your thoughts on T-Bills, bonds, etc. that might make a good quick video too!

[lee-ridgeway]

Yep! I am doing this now, thanks to your prompting me to automatically distribute my paycheck into various accounts directly from payroll. It is nice to see I have some leftover after paying "needs", saving (HYSA), and investing. Thanks again for the reminder to be more financially responsible and aware.

[AdeleP-cohg]

Great content, Hanna. I’ve been super busy that it’s only now I get chance to watch them. I’m going to binge watch all 3 vids you just posted! 😂

[akong]

Thanks for the CD info! Thanks for this video. ❤

[Jess-buji]

Love love love these videos ❤❤❤ These are my favourite! Tysm xxx

[libertyjayne]

Do you have any feedback on money market vs high yield interest accounts for savings? They seem basically equal from my research. I have a high interest savings account, but my dad recommended a money market account.

Thank you so much! Love your videos and I wish you much success.

[holtsdh]

I just opened a HYSA this year. I've learned when it comes to savings, I am an out of side out of mind type of person. That's why I have money directly deposited from my account. That way I don't miss it.

[bagsaddicted]

I do love this type of videos. Thanks❤

[crazykayz]

At what point do we stop contributing to the high yield savings account?