Emergency Savings Fund
Prepare for the unexpected costs. Emergency savings funds can act as a buffer to combat unforeseen circumstances like car troubles, job loss, medical bills, and much more. Many financial experts recommend building up an emergency fund that can cover at least three months of your essential expenses, though saving more can never hurt. If saving up three months of expenses seems like it would take a long time, starting with a goal to save at least $500 towards the fund can be a great starting point.