Allison (Allison Baggerly)

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274 appearances 1 recordings 1 series first heard Oct 2025 last heard 30 Oct

Allison (Allison Baggerly)’s voice in public audio — every appearance, attributed to the second.

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Inspired Budget · #232: Used Your Emergency Fund? Here’s Your Next Step · 30 Oct 2025 podcast

You don't have an extra $4,000 a month to put into your savings.

So instead of trying to put all this pressure on yourself to rebuild it as quickly as possible and within an unrealistic timeline, instead, set up a more realistic, smaller goal.

Maybe you instead are going to send $1,000 a month to your emergency fund.

or $500 a month to your emergency fund until it gets back to where you are comfortable.

My third tip for you to help you rebuild your emergency fund is to adjust your budget and cut back on your expenses, even if it's just temporary.

One thing I've always tried to do just personally when it comes to my finances is I don't want to increase my lifestyle so much and get to the point where I am spending so much money every month to live that it's hard for me to scale back.

This is the perfect opportunity for you to find easy, short-term ways for you to scale back on your spending over the next three to six months.

I personally think that it's unrealistic to have such a high lifestyle where you are spending a certain amount each month and assume that that number will never change, that there will never be fluctuations in that number.

Here's an example.

I know that if something happens and we do have to use our emergency fund,

There are areas in our budget where we will cut back over the next three to six months to save money.

A lot of those are variable expenses, different subscriptions we have.

We would do things like eat out less or spend less money on entertainment, travel less, things like that.

So look at your spending and ask yourself, where are you willing to cut back

even if it's just temporary, even if it's just a small amount every single month to be able to send more money to your emergency fund to get it back up to a place where you want.

This right here is a classic trade-off.

If it pains you to not have a fully funded emergency fund, then I can guarantee you, you can go through your spending and you will easily find things that you're willing to let go of temporarily so that you are no longer bothered from not having that money in savings.

This is the perfect time to do that.

The fourth tip for you to rebuild your emergency fund is to automate it.

Set up automatic transactions, even if it's $25 a week, to go straight to your savings so that you don't have to talk yourself into making those transfers every single month.

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