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And, as it turns out, anyone can accrue one by simply changing their spending habits.
First things first, how much should an emergency fund contain?
This will vary depending on lifestyle and number of people per household.
Lets take the average of the two: $34,050.
Here are 10frugal habits to help get you there in 2025.
Ben Watson, vCFO atDollarSprout, added that batch cooking could further save an additional $1,000.
On average, thats $45 plus $10 in tip and shampoo, totaling $55 every visit.
Multiply that by 6 times per year and the average woman spends $330 annually on haircuts.
This could stretch for $500 for bi-annual bang trims.
Learning to cut hair for a family of four could add up to a potential savings of $2,000.
And that amounts to $1,200 per year.
That adds up to a whopping $7,200 per year.
Impulse purchases at a grocery store can increase your bill by 20 to 30%.
So, before you go grocery shopping, make a list and stick to it!
Thats an annual savings of $540 as a result of giving up… absolutely nothing.
That cuts down on each persons ability to just stop off random places and go shopping.
Reconsider Storage Units
Have lots of furniture sitting in a storage unit thats not even being used?
If possible, Peterson encouraged selling unused furniture and considering giving up the storage unit.
You may even accrue an additional $2,000 in sales.
Get a Roommate
Living with a stranger off Craigslist typically elicits a loud groan.
But, if contributing to an emergency fund is top of mind, there may be no better option.
Thats anywhere from $3,000 to $22,380 annually.
Chore chart, anyone?
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