Fast Cash: How to Come Up With $1000 Fast For Your Emergency Fund

Today, we’re looking at Baby Step 1 on Page 9 in Chapter 1 of Dave Ramsey’s Complete Guide to Money. And here’s my lesson for the day:

If you don’t have an emergency fund, start today… now… right now.

Chapter 1, titled Super Saving: Common Sense for Your Dollars and Cents, continues on Page 9 with an introduction to Baby Step No. 1 – Put $1,000 in a Beginner Emergency Fund.

In our journey towards building wealth and mastering money, the Number One Priority is to Save Money.

How?

By starting with Baby Step No. 1.

In this section of the book, Dave dives right into the first step in the classic 7 Baby Steps we discussed in a previous post.

Baby Step No. 1 is the first of the seven steps for a reason – and that’s because: it should be your No. 1 priority right now.

Don’t just read / skim through this, and shun it because it sounds so simple. Because I can tell you this: starting an emergency fund (or a beginner emergency fund) sounds really simple, but works.

You just have to make it an emergency for you. It has to be your priority, you can’t push it aside and forget about it. Truth is, I believe you can come up with $1,000 to use for your beginner emergency fund, if it’s very important to you… and if you make it a priority.

Even better, you don’t have to come up with the whole $1,000 in one day. Just begin the process today and set a goal of eventually coming up with the $1,000 by the end of this month.

You’ll need to do whatever it takes (so far it’s legal), but you’ve got to get going on this fast… like right now.

Here are 13 different ways you can use to come up with that $1,000 emergency fund

1. Sell Stuff You Don’t Need

Look around your home and see whether there’re items you haven’t used in a while.

Ask yourself if you still need to keep those items or if you’re better off packaging them and selling them. You not only get some cash to start that emergency fund, but you also get rid of the needless clutter in your home.

Some items you can sell are: used books, cameras, toys, appliances, tech devices, household tools, etc. Simply start a garage sale or head over to Facebook Marketplace to put up those items for an interested buyer to pay money for those items.

2. Rent Your Room on Airbnb

You’ve gotten rid of items you don’t need, how about that extra room or basement you’re not using? Can you rent out your room on Airbnb?

Airbnb lets you list your room for rent, so that interested folks looking to stay at your place can reach out and pay you to lodge in your room. You get paid to build up your emergency fund, especially when that room is simply sitting there with no use for it anyways.

3. Work Overtime

If you’re currently getting paid to do your standard job, why don’t you put in more hours to get more pay? The extra hours will help you stash up your emergency fund, while also helping you gain more hands-on experience at your job.

4. Ask For a Raise

For the work you do right now, can you get paid more? You’ll never know until you start doing your research, and finding out what the industry rate for your role is.

Also, you might find that you’re contributing to your company’s bottom line more than a standard employee. These would give you talking points to use for your negotiation conversations with your boss as you ask for the raise.

5. Cut Out Luxuries From Your Monthly Budget

If you’re always eating out or always indulging yourself with that extra steak in a lot of your dishes, you can cut out those extra expenses from your monthly bills.

You would think some expenses are NEEDED, when, in fact, they’re simply luxuries. Remember: your priority here is to save so you can be ready for emergencies.

Ask yourself: if I had an emergency today, which expenses would have to go right away? Cut those expenses now, so you can have the money to save for that emergency, when it comes.

6. Find a Paying Job on Craigslist

Maybe you’re in between jobs or just looking to take on some extra gigs… either way, Craigslist is a solid resource for jobs.

Unlike other job sites where you’re likely competing with folks from all over the country, you can usually find jobs in your local area with less competition and faster start times, since most of the jobs are posted by small business owners or job advertisers who need the openings filled fast.

7. Run Facebook Ads for Small Business Owners

The biggest need that small business owners face (think hair stylists, plumbers, chiropractors, dentists, mechanics) is… getting consistent leads.

That is, they NEED people constantly checking out their businesses, so they can convince those people, and convert them from leads into paying customers / clients.

Which is where you come in… you can use Facebook Ads to advertise their businesses, so they can get more calls or site visits.

Start by using helpful online resources on how to run Facebook Ads and study case studies to see how businesses are getting good returns from their spend on Facebook.

Then ask a small business owner you know (your family member, a friend, a co-worker) and offer to run the Facebook ads for them for free for a testimonial for your next set of clients.

More Ideas For Your $1,000 Emergency Fund

Here are some more ideas you can use to get that $1,000 for your emergency fund by the end of this month:

8. Some More $1,000 Money Making Ideas

All said, the only person really standing in your way is: you. Start using some or all of the ideas today… right now, so you can make that $1,000 this month.

And then – this is very important – DON’T SPEND IT.

The $1,000 is not for you to pay your rent, buy groceries, get gas, or pay your bills.

The $1,000 is for you to save.

The $1,000 is for your emergency fund. However much you make for this fund ($1,000 or more), deposit it into a separate emergency fund account that’s different from your standard checking / savings account.

And that, right there, is your Beginner Emergency Fund… Baby Step No. 1 done.

If there’s only one thing you take from this post, let it be this:

If you don’t have an emergency fund, start today… now… right now.

That’s all for today, my friend. We’ll be continuing with the next section still on Page 9 of the book tomorrow.

See you then.

-DD

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