Experts are now saying that you should have up to EIGHT months of payments set aside in case of an emergency. The prevailing wisdom for years was only three to six months. That means that our family is going to have to dig in deep if we are going to build up our savings to the recommended amounts.

Tips for Saving Money Each Day

1. Fix your meals to go. Instead of grabbing something at the game or on the way to work why not have some easy to heat options in the freezer or fix sandwiches to carry along with you.

2. Skip the movie and watch at home. Taking the entire family to the movies gets expensive quick. Choosing to have family night at home could easily save $30 for each outing (and that doesn’t even take into account the refreshments).

3. Turn off any extra lights and equipment around the house can start to add up on the electric bill. Keep in mind that many rooms have more than one fixture but that only one fixture might be needed to actually light the room. During the day, no lights may be needed at all.

4. Turn the air conditioning up to 74 degrees. Put all the money left over from the electric budget into your savings.

Take baby steps towards saving for your emergency fund and you will be surprised how quickly you can leap into those eight months of savings.