HOW SINGLE MOMS CAN START AN EMERGENCY FUND

There have been times when I have lain awake thinking, if the car broke down or there's a sudden expense my kid needed for school, where would I get the money from. Since I didn't have any saved. It's a tough situation to be in. And it weighs heavy on you. It's not something I ever want to feel again, and neither do I want it for you.

Not having any money to fall back on in case something comes up just adds to the weight of everything else you're carrying.

And you know you can't do this, not to yourself, nor to your kids. An emergency fund is so needed. For all those unexpected expenses. Just in case. And you know for a fact there's always something.

Consider having an emergency fund a necessity. You might be thinking, how in the world do you start an emergency fund when you literally have nothing much left for anything else. But this isn't about having six figures in the bank (though that'd be nice). It's about you being able to say. "I've got this, one way or another".

The amount doesn't matter. You can start with only $50 or $100 and build up from there. Whatever it is, you need a plan. A plan that works for your life. Because you deserve that little cushion. You deserve to breathe.

Here we'll go through what an emergency fund really is, the different kinds of emergency funds, how much you should aim for, and how to start building it (yes, even when things feel tight).

What is an Emergency Fund

So what is it? Well, it's not your vacation fund (if you have that). It's not your "treat yourself" fund either. It s the fund you use when the unexpected hits you so you don't fall off the cliff.

Plainly, it's just an amount of cash set aside for any unplanned expenses or financial emergencies. It could be a car repair. Your kid's medical bill. The daycare closed unexpectedly. Your hours got slashed. Your fridge died. These things don't ask permission. You don't schedule them. They just....happen.

And when you're the only adult tying the budget together, they feel huge.

I remember one year, when my son was little, I had to pay for tires. Two at once. My savings were basically nonexistent. I ended up putting it on my credit card and promising myself, "never again". The emergency fund idea started right there. Because I hated that feeling of being stuck with nowhere to turn to. And nobody should feel that way.

An emergency fund gives you choices. It gives you options. It gives you room to breathe.

The Different Types of Emergency Funds

Okay, so it's not one size fits all. There are different layers. I divide them like this because it helps me see progress, not just a big, scary goal.

"Baby" Emergency Fund (a mini-buffer)

This is the "Okay, I just want one bill covered if something small happens" fund. Maybe $200, maybe $500 oe even $1,000. Just enough to stop the immediate panic. Imagine if your kid's glasses broke and you didn't have to borrow from someone or shuffle payments. You just cover it and move on. That's what this fund is for.

Core emergency fund (your go-to fund)

This is the fund that covers 3 months of living expenses (or more if you can). The idea is that you'll be okay if something bigger hits, like losing your job, a huge home or car repair. Then you've got this cushion.

Extended emergency fund (dream, yes, but worth it)

This one is six months or more worth of expenses. If you can get here, you're ahead of many. But you don't have to feel bad if you're not here yet. Many people aren't, and that's okay. The key is to build up, step by step.

If you're starting at "baby fund", cool. If you're at "core", even better. And how fast (or slow) you get through these levels is entirely up to you. The point is progress, not perfection.

How Much Should You Save

This part gets tricky because your numbers are your numbers. Not someone else's.

Your first step is to figure out your "one-month bare minimum living expenses". This means finding out what you must pay each month to keep your household going. rent ot mortage. Utilities. Food. Transport. Childcare or after-school programs. Insurance. Basic bills.

Let's roughly say you add all that up and you get $3,000 a month.

That means,

Your baby fund can start with $500 to $1,000 while you build.

Your core fund, $3,000 x 3 (months) = $9,000.

Your extended fund, will then be $3,000 x 6 (months) = $18,000.

Just keep in mind that this doesn't happen all at once. You can start building your baby fund of $1,000 first, then add $100 every month to reach your next level.

If your income fluctuates through doing overtime or any side hustles that you do, you can pick a "low income month" estimate to build against. That way, you're covered when times are tighter.

How You Can Start Saving For An Emergency Fund

This is the fun part (well, sort of fun). Because now you can take the "one more step" mindset.

Here are some things you can start doing from today.

Pick a separate savings account

Open an account labelled "Emergency Fund. Keep it separate from your checking so you're not seeing the number every day and tempted to spend. It's best to keep it easily accessible, but at the same time, make it a little "Invisible".

Automate contributions

Even if it's $25 per paycheck or $10 a week. If you automate it, you don't decide in the moment, "should I save or should I skip it?" You're already saving.

Use windfalls or extra money for savings

Tax refund? Bonus? Gift? Put a chunk of it (or all) into the fund. Remind yourself to take advantage of these one-time opportunities to increase your emergency fund.

Sell things you no longer use

Old toys. Clothes. Furniture. Kitchen equipment you don't use. You can sell them at a garage sale or, Facebook Marketplace. The money you make from that can go straight to your fund.

Cut one small recurring expense

Maybe a streaming service you hardly ever use. Or reduce your take-out dinners by one a week. The $10 or $15 you save, straight into the fund. It might look like an insignificant amount, too small to even matter, but over time it really does add up.

Increase your income

Maybe it's babysitting, freelance work, delivering meals, or selling printables online. Something you can fit around what you already have going on in your life with your kids. That extra $100 or $200 per month can speed up your fund building.

Decide what qualifies as a real emergency

If you're not sure if it's an emergency, then it probably isn't. Your emergency fund should be reserved for job loss or your hours being cut, a big car repair you need to get around, medical bills, or home repairs that can affect your safety if not done. Avoid, at all costs, dipping into your fund for "treats" or an "upgrade" of things.

So now you have a plan. You know what an emergency fund is. You know the different types. You know how to calculate what you need. You basically got the steps to start saving today.

Remember that you don't need to hit $9,000 or $18,000 overnight. That's just unrealistic when you're doing this on your own. You'll just end up more stressed. Just pick your target based on your situation. Build your baby fund first. Then move to the next one. You'll find, along the way, what works for you and what doesn't. Take them as lessons.

It's not about getting things perfect from the get-go. It's about showing up. Protecting yourself. Giving you and your kids a little more stability. A little less fear when the unexpected hits.

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