How To Save a $1000 Emergency Fund

How to stop dipping into your savings. Changing your mindset. Customized Savings.
How To Save a $1000 Emergency Fund – Chic and Domestic

How to stop dipping into your savings. Changing your mindset. Customized Savings.

*This post contains referral links. I may receive compensation for your clicks*

If you’re one of my loyal subscribers, it’s no secret now that my family is on the yellow brick road to home ownership, but before going all in, it was important to first tackle a few other things along the way. The most important thing you can do for yourself as an adult, or just someone out here pretending to adult, is to save an emergency fund for a rainy day. This comes in handy not only for someone in the market for a home, but for anyone. After all, no one in the world is exempt from unexpected emergencies.

It always seems that everyone’s biggest hurdle is either starting a savings, consistently saving, or remembering that your savings isn’t for that new pair of shoes. Savings is for saving, and not touching until you’ve reached your goal, or until absolutely necessary.
We had to first change our mindset and remember to pay ourselves first. Treat your savings as if it’s equally as important as any of your other bills, because after all, it is! It quickly became mandatory for us to save every week, because having that cushion for “what ifs” was just as important as keeping our lights on.

I’ve saved large lumpsums before, but simply moving money from my checking to my savings wasn’t hard enough to access. Like many others, I was finding myself constantly transferring money back and forth. I was saving, but just as quickly as I was saving, I was spending. This go around I opted for trying out an app like Qapital to save and control my savings.

If you try it out today with my referral code you’ll be able to receive $5 FREE towards your first savings goal. Check it out here.

Qapital is an easy to use app that transfers money from your bank account to a separate Qapital savings account. It’s been very easy to use so far, and I’m able to keep “rules” set so that I can save as little or as much as I want to. I’ve been able to cash out on two of my savings goals and the process was also very quick and easy to have my money returned to me.

My current favorites are the “round up” rule that saves the change every time I swipe my card for purchases, and the “set it and forget it” option that sets up daily, weekly, or monthly deposits to my Qapital savings account.

Along with these rules there are various options for savings that you can choose from.

Saving a percentage of your check
For saving percentages of your check weekly or biweekly. There’s even an option for adjustment based on the total of your check.

A guilty pleasure rule
For making a payment to your savings whenever you buy a guilty pleasure that you’re trying to resist.

Spend less rule
Where you set a budget for yourself, come in under budget (Hopefully), and the Qapital app automatically saves the difference.

Freelancer rule
Where you’re able to tuck away the required 30% every payday, so that you’re prepared for Tax Day.

52 week challenge rule
The Qapital app automatically saves the weekly requirements to complete the 52 week challenge for savings.

And other customizable rules.

With the use of this app I was able to see my savings grow while I essentially did what I was normally doing. Before I knew it, it was telling me that I had reached 50% of my $1000 savings goal, and after that it became addicting for me to check it every week, and add whatever extra money I could. We are now working on our 3 month reserves goal, and our 6 month reserves soon after!

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28 Comments

  1. I love the idea of treating the savings as a bill. I’ve told my husband that before but never done that. I can totally see us putting it in saving and taking it out shortly after…:/ But I will have to check the app out, that’s a brilliant idea for an app.

    1. When I first discovered the app I thought, “Omg, This is what I need!” It’s been great, and I’m loving it so far.

    1. Try it out and let me know how you like it! It’s been great for us, and having that emergency fund is a MUST. It saves you from huge hits to your wallet, or racking up extra debt. Plus, once you finally reach your $1000 mark, your savings journey feels that much easier.

  2. These are such great tips! I am so terrible at saving money, luckily my fiance is better than I am with this ! Haha

    1. The $1000 emergency fund was our first goal. We’re now saving up 3 months of expenses. After we reach that (because I believe we WILL) then we’ll keep going for 6 months of expenses. Your savings account can never be overly funded lol.

  3. Oooo I’m definitely going to down load this! It always feels like we get close but something will happen and the savings is gone!

    1. Try it out and let me know how you like it. I’m loving it, and I hope that it can be a lifesaver for someone else.

  4. I love that you set measurable goals and have a way to achieve them! It’s easy to forget about saving extra for things like taxes or emergencies. Good information!

    1. The coolest part about the app is how you can cater to your own savings goals and make it fit your lifestyle. You can set a $10 weekly savings, or a $100 weekly savings. No budget is too small.

  5. Great tips! I especially love saving straight from your paycheck because then you won’t “see” it in your spending account.

  6. What a great app! I, too, struggle with constantly transferring my money back and forth. Luckily, my main savings and tax contributions are pre-set through my teaching salary. But it is my small 1,000 emergency savings that I struggle with. Great tips!

    1. Oh that’s great! If you decide to try out the app for your emergency fund, let me know. I’d love to hear about it.

  7. These are awesome tips and I’d love to give that 52 week challenge a go! It can be so easy to budget practically — just takes a little effort!

  8. Great ideas! Currently I’m just trying to be as “cheap” as possible when it comes to extra spending, or finding free alternatives, and using coupon and reward programs when I do spend.

  9. Saving is definitely something we’ve struggled with since I stopped working, but the Qapital app seems very practical with all of the customizable options!

    1. When I first came across it I was like ehh, I’ll just download it and see what it’s about, but I really did fall in love! lol

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