The math behind building a 3-month emergency fund in 180 days is simple.

You must live on an average of 50% of your income. If you can do that for six months, you’ll have built up 3 months worth of savings.

While the math is simple, being able to live on 50% of your income is a challenge. Especially, for those living paycheck today.

While it’s a challenge–it is possible.

The good news is you don’t have to figure everything out today. You have six months.

When you’re trying to build up an emergency fund, there are two ways to attack the equation:

  • Spend Less
  • Make More

Strategy # 1 – Shifting Your Mindset

It’s best to go in with the mindset that the ability to spend less and the ability to make more is a skill.

A skill you can build.

There are things you may be doing in month five you had no clue existed today. Yet, if it wasn’t for your ability to build the skill today, you would have never got there in the first place.

The end goal here is to build a three-month emergency fund. The path to doing so will be bumpy. In the first 90 days, you might only save 10% of your income. In month three you may discover a better way to make money. For the final three months your income may skyrocket.

What’s important is to know the destination. The path will change but the target doesn’t.

Strategy # 2 – Increase Your Credit Score

Why is it so important to increase your credit score early on?

First, it allows you to build some momentum. Seeing that your actions can turn into positive results is a wonderful thing.

Next, increasing your credit score allows you to potentially save thousands of dollars by refinancing your debt.

Where should you start?

I use myself and recommend a free site called Credit Sesame which allows me to see my credit score for free. Then, provides me customizable tips for increasing your score.



Action Steps

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Strategy # 3  – Build Your Frugality Muscle

In the first month, what you want to focus on is gaining momentum. Chances are you’re not going to cut your expenses in half.

You want to take advantage of the easy wins. The wins that will give you a lot of reward for little effort.

One thing you can do right now is  to start lowering your grocery bill is to use the Ibotta app. With Ibotta you can use their digital coupons to save on essentials. There’s also a $10 welcome bonus. 

A few more easy wins:

For more ideas, read: How To Save Money

Strategy # 4 – Build Your Money Making Skills

Next up is building your money making skills. If you never made money outside of a job, there’s no need to panic. There are ways you can start making money today with no experience (keeping in mind, you’re building your skills).

The simplest way to start seeing deposits into your bank account is to complete online surveys. There are dozens of legitimate survey sites that pay you money. On the other hand, there are other not so legit sites. After hours of research and a lot of personal experience, I’m going to give you three worth your time.

I recommend signing up for each of them.  These sites all have decent payouts and offer a quality user experience. One thing I’m glad I did when I signed up for these survey sites that pay cash was to use a separate email address. It’s an email address I login to about once a week. Keep in mind, you will have to confirm your email, so it’s important to use a real one.


How It Works: Swagbucks is a favorite of mine,  as well as a favorite of many readers here. Not only do they offer a wide range of surveys that pay cash, you can earn points for the everyday things you do online like searching, shopping, and watching videos. In total, Swagbucks has paid out over $220 million in rewards. Even if you’re not interested in doing surveys, it’s still easy on the platform to earn decent money with what you’re already doing online today.

Payment Method: Redeem points for Cash through PayPal.

Sign Up Bonus: $5 Just For Signing Up!



How It WorksYouGov is one of the world’s largest research companies with over 5 million members worldwide. Most surveys take between 5-10 minutes and earn you 1,000 points ($1 is equal to 1,400 points). You have to answer a few questions first, then get to sign up.

Payment Method: Points to Cash through PayPal

Sign Up Bonus: 2,000 Point Signup Bonus



How It Works: MyPoints is another large survey site, owned by the good people who run Swagbucks. Founded in 1996, they’ve paid out over $236 million in cash and rewards. You can earn points through surveys, plus a number of other ways like watching videos or testing games.

Payment Method: Points to Cash through PayPal

Sign Up Bonus: $5 Bonus for first 5 surveys


Freelance To Earn More Money

To start a business that sells a physical product takes time and money.

To start a freelance business, one in which you’re selling your skills on a per hour or per project basis takes little time and little money.

Earning money freelancing is a lot easier than you think. You don’t need a business plan, you don’t need to invent anything.

You need only a skill that is valuable and a client willing to pay you.

There are hundreds of ways to make money freelancing. So, if you don’t have a certain skill in mind, such as graphic design or writing, that’s OK.

I prepared a well laid out plan for you to get started freelancing. For inspiration, you can see how I went from beginner to earning over $100 an hour writing and designing landing pages.

Earning an extra thousand dollars a month (think 30 hours a month at $33 an hour) is very doable for the beginner. Even if you already have a full-time job.

Free Resources:


Strategy # 5 – Refinance Your Current Debt

For any debt you do have, you want to have the lowest interest possible. A low-interest rate, combined with an aggressive payoff plan gets you out of debt in the quickest way possible.

Without a large percentage of your income going towards repaying debt, you can build considerable wealth fast. Most importantly, give yourself more freedom.

This is where increasing your credit score can help. As the better your score, the better rates you’ll qualify for.

Here are a few different options to consider:

  • Credit Card Debt – Find a card with 0% APR. I use and recommend the Chase Freedom Card, which comes with a $150 bonus and the ability to earn 5% cash back on rotating categories. You can learn more about how to properly consolidate your credit card debt here.
  • Personal Loans – You can look to consolidate any personal debt to one lower monthly payment with SoFi.
  • Student Loans – Refinance your student loans to a lower rate with companies like Sofi

Strategy # 6 – Sell Your Car, Pay Off The Debt, & Buy A Cheaper One

One of the biggest reasons why many of us can’t build an emergency fund in the first place is car payments.

We spend an obscene amount on cars.

Due to the quality of cars being made today, a dependable, lower mileage car can be had for around $5,000.  Yet, there are those in debt driving around cars worth over $20,000. Even worse, paying high-interest loans on that debt.

If you have more than $5,000 of equity in your car, it may be best to sell it and buy a cheaper one.

For example, say you have a late model Toyota worth $12,000. You sell that car and buy a bit older model for $5,000.

That’s $7,000 you can put towards your emergency fund. That may even be enough to get you to your goal in 30 days.

Strategy # 7 – Maximize Earning Potential Of Your Primary Job

So, far we’ve talked about ways to make money outside of your primary job.

But, what about earning more from your primary job?

There are three strategies here to earn more money.

You can:

  • Ask for a raise
  • Ask for more hours
  • Find a job that pays you more

All three are smart options not just for the goal of building an emergency fund but anytime.

Doing the work to negotiate a raise or finding another job is a high paying activity. If you took 20 hours to find a new job and got a $10,000 annual raise, that equates to $500 an hour.

How To Build A 3 Month Emergency Fund In Six Months

On this journey, the most important aspect is the mindset. Both saving money and making more is a skill. A skill that you can grow over time.

Start small today. Build your skills a day at a time.

In six months, you’ll be glad you did.

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