5 Wealthy Woman Hacks for Building Your Rainy Day Fund Quickly
Life is full of exhilarating ups and stormy downs. It’s not always rainbows and butterflies.
A rainy day fund protects you when the unexpected happens. So if you suddenly need to buy a new dishwasher, you can do it. Without any financial worry or guilt.
Plus, wealthy woman hacks are all about working smarter, not harder. So, how can you build a rainy day fund in a month, a week, or even a day?
Check out today’s action steps!
Hack #1: Challenge Yourself
Give yourself a deadline to come up with the money you need. By adding pressure on yourself, you’ll find creative ways to save that you wouldn’t push for otherwise.
Try the 5 in 5 challenge. Choose a number to save that has a “5” in it ($50, $500, $5000) and do it in 5 days! You’ll be amazed at how scrappy you become!
Hack #2. Make Cash Fast
Declutter your home and then have a profitable garage sale. Or…
- put your items on Facebook Marketplace
- bring them to a consignment store
- sell them on Etsy or Ebay
Related: 50 Items to Resell for Profit
Hack #3. Grab the low-hanging fruit
Check your subscriptions to see what you aren’t using anymore. Things like Audible and Hulu can charge you for months without realizing that you’ve stopped consuming them.
Or what if you dropped a subscription you use for only a few months? We get rid of Netflix in the summer months, then add it back on when it gets cold. We hardly notice the difference, and it makes Netflix exciting when it comes back to our home.
It’s a tiny sacrifice for rainy day peace of mind.
Hack #4 Save Big on Food
Food is another easy win for building your rainy day stash quickly. Use these ideas for a week or a month and your savings grow quickly.
- Brown bag your lunches for a week. (Even taking a cold lunch once a week can net you $40-$200 a month)
- Clean out your pantry and freezer. Then, plan your meals for the next two weeks around those items.
- Only go to the grocery store once. If you’re missing an unexpected ingredient, improvise!
Hack 5. Set up automatic transfers:
Spend 5 minutes setting up automated transfers from your checking to your savings account each payday. It’s important to move the money to your rainy day fund immediately so you aren’t tempted to use it!
Grab a fun savings account name to make it more motivating >>
What’s Next?
You might not be dancing in the rain if the unexpected happens. But at least you can stand strong in the storm, knowing that you have protected yourself and your peace of mind.
Now, get building your rainy day fund!
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