Do you have the habit of saving money or keeping aside funds for emergencies?

Learn to do it at a young age. If you have never done this, start now.

Do you earn money, or receive pocket money?

Use some of these funds to learn to save for a rainy day. These funds are called as Emergency funds. One that you can get to use when you need urgent cash for expenses, especially unexpected expenses.

You may be running a tight ship when handling your income & expenses. Balancing between the two is important. Try to take out at least $1, $5, $10, or $50. Whatever you can spare, keep it aside in a separate place. It can be a savings account, hard cash in a cash box or piggy bank at home.

Make it a daily habit to keep these funds aside for a week. Then increase it to 30 days. Continue this for as long as you can.

Implement the discipline that you will use these funds only in an emergency. You define for yourself what you would call an emergency or unplanned expense. It is an expense that you suddenly need funds for and cannot fit into your monthly expenses.

Set a goal for your emergency fund amount, and maintain it. Use some of the excess from what you have saved for six months to pay off a loan. You could also take a vacation. Buy some item that you need, or invest it.

Little by little, savings becomes possible. Better financial future becomes possible.