SAN CARLOS, CALIFORNIA / ACCESS Newswire / November 3, 2025 / Building an emergency fund is a top financial goal because it provides a crucial safety net during unexpected events like medical emergencies or job loss. While saving can feel daunting-especially when money is tight-getting started doesn't require a lot of extra cash. This article shares six practical tips for building an emergency fund, even when it feels out of reach.

1. Start small with smart savings

The sooner one starts, the more savings will add up over time. Putting aside $2, or $10 whenever there's a little room in the budget can help make saving possible without impacting daily life.

Saving a little at a time can be better than attempting to save a lot quickly and burning out. As income grows or spending falls, people can increase their savings cap or set bigger savings goals.

Consider using smart savings apps to automate saving in small quantities. Oportun's Set & Save^TM app does this by reviewing income and spending habits in a bank account, and setting aside funds automatically for various savings goals. If the bank balance is low, no savings will come out. And if there's some extra cash without expected spending, savings will get built. It's the best way to build savings without having to think about it.

2. Consolidate and refinance debt to reduce interest and monthly payments

Many get stuck in the dilemma of whether to pay down debt or establish their emergency fund first. Refinancing and consolidating can help savers achieve both at the same time. This involves paying off multiple debts with one loan, such as a personal loan. Doing this could cut one's monthly payment if the loan has lower interest, plus it reduces the number of debt payments to keep track of. The result could be more money to put toward savings and overall financial stability.

3. Set up automatic savings transfers

Most banks let customers set up automated transfers internally between accounts and externally to or from accounts at other financial institutions. Set up a separate savings account and schedule transfers into it. This can make consistent savings much more manageable. Savers don't have to log into their online banking or call the bank to initiate savings transfers.

4. Consider a high-yield savings account

A high-yield savings account pays interest rates many times larger than traditional savings accounts. Many require a minimum balance or charge a fee. Consider building savings in Oportun's Set & Save or a traditional savings account until the minimum is met and then transfer the cash into the high-yield account when ready. Otherwise, make sure that the interest earned covers the cost of the fee.

5. Review spending closely

Check credit card statements, mobile app payments, and bank accounts to deeply understand spending. Some people may be surprised to find unneeded subscriptions, overpayments on bills, or get inspired to shop around for lower prices. Even small reductions in spending can accelerate one's savings. Savers should therefore track their spending and keep a monthly budget. This will help lower spending and make it more predictable, alleviating stress and increasing savings.

6. Put windfalls toward the emergency fund

Every now and then, savers may come across a windfall-whether it's a work bonus, tax refund, holiday gift, or even cash found in an old jacket pocket. Directing these unexpected funds straight into savings can boost an emergency fund without requiring any cutbacks. It's natural to want to use some of it for fun, but the more set aside toward savings, the sooner goals will be met.

The bottom line

Building an emergency fund is possible-even when money is tight. With the right tools, it's easier to start small, automate savings, and stay on track. Oportun's Set & Save feature is a great place to begin. And that's just the start. Over time, small changes-like reviewing spending or consolidating debt-can add up to big progress. Start today to build savings, help feel prepared, and strengthen habits in support of financial goals.

CONTACT:

Sonakshi Murze
Manager
sonakshi.murze@iquanti.com

SOURCE: Oportun