Millennial Money: Don’t freak out about your emergency fund

FILE - In this June 15, 2018, file photo a canning jar filled with currency sits on a shelf in East Derry, N.H. An emergency fund doesn’t have to be wishful thinking when you’re building your financial life. Start small to build a habit, use windfalls to kick-start your fund and have a plan for irregular expenses. (AP Photo/Charles Krupa, File) FILE - In this June 15, 2018, file photo a canning jar filled with currency sits on a shelf in East Derry, N.H. An emergency fund doesn’t have to be wishful thinking when you’re building your financial life. Start small to build a habit, use windfalls to kick-start your fund and have a plan for irregular expenses. (AP Photo/Charles Krupa, File)

By Amrita Jayakumar / NerdWallet via The Associated Press February 28, 2019 4 min read

Let’s be real: For millennials, having an emergency fund is way down on the financial worry list, behind student loan debt, medical bills or saving for a down payment.

Some weeks, it can feel like you barely have enough money to get by, let alone put some away for a rainy day.

But that cash stash can be crucial in preventing a debt spiral or keeping you afloat if you lose your job. Regardless of income, building your emergency fund doesn’t have to be intimidating.

START SMALL, BUILD A HABIT

First, pick an amount you can put away on a regular basis, no matter how small. Then, commit to it.