If you currently don’t have an emergency fund, start from today and start saving money small amount of saving like you can initiate begin with $10 a week. While this won’t amount add up all that quickly the important thing is to start putting something away and to make it a habit, after a few weeks you won’t even notice that $10 missing so you can bump it up to $15 or $20 after a month , you can begin to get used to that money and can slowly increase it again. You can realize that accumulating one month’s worth of your expenses will take some time, let alone three to six months. If you set your immediate goals to be small and manageable you will have a better chance in get to place them.

You should be able to tap into those funds relatively quickly, the best way for them in a savings account. If you deposit the money in your regular savings account, you can earn interest from the account less than 2% on your money. You might want to put it in a money market account that might pay twice as much.The most important to keep an emergency fund in a place that will fairly liquid so that you can get to the money quickly in the event of an emergency. Also don’t invest the emergency need fund into open term GIC, stocks or mutual funds because the volatility of the financial market could cause you to lose money over the short term investment