5 Easy Ways to Jump-Start Your Emergency Savings
5 Easy Ways to Jump-Start Your Emergency Savings
These money-saving tips will help you prepare for a rainy day.

With tax refunds rolling in, it’s a great time to think about saving for unexpected expenses like car repairs or medical bills.


Here are five tips to help you start your emergency fund from Sam N., senior manager, Business Intelligence and Planning, Walmart Services, Home Office:

Make a Budget and Stick to It

Before the month begins, write down how much and when you get paid, then budget how that money is spent. Prioritize necessities like housing, food, and transportation. Put the remainder toward debts, savings, house repairs, new clothes, etc.


Leftover funds not spent on a necessity can be added to your savings. Sam’s advice: “If you budget $10 for lunch and only spend $8, put the other $2 into savings. Every dollar toward savings counts!

Adjust Your Lifestyle

Subtle changes in your daily life add up to big savings. Program or turn down your thermostat to use less energy while you’re not home. Bring your lunch to work more often and brew your own pot of coffee instead of stopping to buy a cup.

Make Saving Fun

Programs like Prize Savings, reward you for every dollar you put into “the vault.” Each dollar, up to $500, gets you one entry into their monthly drawing. One winner a month wins $1,000, and 499 winners receive a $25 prize.


Unlike some other savings accounts, the money is always accessible and the program is available in all 50 states plus Washington, D.C., and Puerto Rico.


“It’s FDIC-insured via the Walmart MoneyCard, so you know your money is safe and sound,” Sam says. “If you use the Walmart MoneyCard mobile app, you can move money to the Vault with just the swipe of a finger. It’s a fun and exciting way to save.”

Find out more about the Prize Savings program at walmartmoneycard.com/prizesavings.

Set-Up Automatic Savings Via Payroll Deductions

Payroll deductions are a great way to easily put money aside. After you sign up on the WIRE (search Direct Deposit—Associate Payroll Payment Selection), an amount you specify will be deducted from your check and placed in your designated savings account each pay period.


“When it’s one of the first things to come out, savings is more likely to get executed,” Sam says.

Shop With Cash

Take cash on shopping trips to set a hard limit on spending. This keeps you from going over budget and helps prioritize shopping needs, especially at the grocery store.


“When you shop with cash, you’ll be putting important, mealtime items in your basket—not junk food,” Sam says.