{"id":21160,"date":"2021-08-12T16:39:29","date_gmt":"2021-08-12T20:39:29","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=21160"},"modified":"2022-01-26T11:24:06","modified_gmt":"2022-01-26T16:24:06","slug":"establishing-an-emergency-fund","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/","title":{"rendered":"Establishing an Emergency Fund"},"content":{"rendered":"\n

What is an emergency fund?<\/strong><\/p>\n\n\n\n

An emergency fund is money that you have put into a savings account over time for an unexpected (and unfortunately, typically unlucky) situation. This is an account that you don\u2019t access every day and one that you only take money from when there\u2019s an emergency. This money can be used for many different types of emergencies, from medical emergencies to unexpected car repairs.<\/p>\n\n\n\n

Why do I need an emergency fund?<\/strong><\/p>\n\n\n\n

Sometimes having an emergency fund determines whether or not emergencies drain you financially. While your lifestyle may determine how much money you are able to put into this fund, it is typically good to have between $500 and $1,000 dollars in this account. However, don\u2019t feel the need to put all this money in your account at once. Rather, you should build it up over time. <\/p>\n\n\n\n

How can you get started?<\/strong><\/p>\n\n\n\n

America Saves<\/a>, a partner of DailyPay, has created a pledge to help you save money, build wealth and reduce debt<\/a>. They will help keep you motivated to continue to add money to your emergency fund and other savings accounts. <\/p>\n\n\n\n

How can DailyPay help?<\/strong><\/p>\n\n\n\n

DailyPay lets you move your earned pay from the DailyPay Balance\u2122 in your DailyPay account into your savings account at no cost to you with our SAVE<\/a> feature. You can easily schedule your savings to be moved automatically to your account. This can help you to establish a well-funded emergency fund. Once that money is in a savings account, you will slowly see it accrue interest and grow!<\/p>\n\n\n\n

Establishing an emergency fund may not seem important now, but the day you need it is the day you\u2019ll be happy that you have been contributing all along.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Looking for more financial wellness tips? Check out other financial wellness resources.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What is an emergency fund? An emergency fund is money that you have put into a savings account over time for an unexpected (and unfortunately, typically unlucky) situation. This is an account that you don\u2019t access every day and one that you only take money from when there\u2019s an emergency. This money can be usedRead More<\/a><\/p>\n","protected":false},"author":32,"featured_media":20683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[145],"tags":[566,391],"class_list":["post-21160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-literacy","tag-budgeting","tag-saving-money"],"acf":[],"yoast_head":"\nEstablishing an Emergency Fund - DailyPay<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Establishing an Emergency Fund\" \/>\n<meta property=\"og:description\" content=\"What is an emergency fund? An emergency fund is money that you have put into a savings account over time for an unexpected (and unfortunately, typically unlucky) situation. This is an account that you don\u2019t access every day and one that you only take money from when there\u2019s an emergency. This money can be usedRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"DailyPay\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailypay\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/trydailypay\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-12T20:39:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-26T16:24:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-emergency-funds-dailypay.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"DailyPay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dailypay\" \/>\n<meta name=\"twitter:site\" content=\"@dailypay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"DailyPay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Establishing an Emergency Fund - DailyPay","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/","og_locale":"en_US","og_type":"article","og_title":"Establishing an Emergency Fund","og_description":"What is an emergency fund? An emergency fund is money that you have put into a savings account over time for an unexpected (and unfortunately, typically unlucky) situation. This is an account that you don\u2019t access every day and one that you only take money from when there\u2019s an emergency. This money can be usedRead More","og_url":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/","og_site_name":"DailyPay","article_publisher":"https:\/\/www.facebook.com\/dailypay","article_author":"https:\/\/www.facebook.com\/trydailypay\/","article_published_time":"2021-08-12T20:39:29+00:00","article_modified_time":"2022-01-26T16:24:06+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-emergency-funds-dailypay.png","type":"image\/png"}],"author":"DailyPay","twitter_card":"summary_large_image","twitter_creator":"@dailypay","twitter_site":"@dailypay","twitter_misc":{"Written by":"DailyPay","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#article","isPartOf":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/"},"author":{"name":"DailyPay","@id":"https:\/\/www.dailypay.com\/#\/schema\/person\/0dc5e72435b747402bdc50b62513acd9"},"headline":"Establishing an Emergency Fund","datePublished":"2021-08-12T20:39:29+00:00","dateModified":"2022-01-26T16:24:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/"},"wordCount":305,"publisher":{"@id":"https:\/\/www.dailypay.com\/#organization"},"image":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-emergency-funds-dailypay.png","keywords":["Budgeting","saving money"],"articleSection":["Financial Literacy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/","url":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/","name":"Establishing an Emergency Fund - DailyPay","isPartOf":{"@id":"https:\/\/www.dailypay.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#primaryimage"},"image":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-emergency-funds-dailypay.png","datePublished":"2021-08-12T20:39:29+00:00","dateModified":"2022-01-26T16:24:06+00:00","breadcrumb":{"@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#primaryimage","url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-emergency-funds-dailypay.png","contentUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/employee-emergency-funds-dailypay.png","width":1200,"height":628,"caption":"A person wearing a yellow sweater is placing a coin into a white piggy bank on a wooden table. The background is orange, and the text to the right of the image reads \"Establishing An Emergency Fund\" in white capital letters. Sunlight shines warmly onto the scene."},{"@type":"BreadcrumbList","@id":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/establishing-an-emergency-fund\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Resource Center","item":"https:\/\/www.dailypay.com\/resource-center\/"},{"@type":"ListItem","position":2,"name":"Financial Literacy","item":"https:\/\/www.dailypay.com\/resource-center\/financial-literacy\/"},{"@type":"ListItem","position":3,"name":"Establishing an Emergency Fund"}]},{"@type":"WebSite","@id":"https:\/\/www.dailypay.com\/#website","url":"https:\/\/www.dailypay.com\/","name":"DailyPay","description":"Earned Wage Access Provider - DailyPay","publisher":{"@id":"https:\/\/www.dailypay.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.dailypay.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.dailypay.com\/#organization","name":"DailyPay","url":"https:\/\/www.dailypay.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dailypay.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.dailypay.com\/wp-content\/uploads\/dailypay-logo.svg","contentUrl":"https:\/\/www.dailypay.com\/wp-content\/uploads\/dailypay-logo.svg","width":157,"height":39,"caption":"DailyPay"},"image":{"@id":"https:\/\/www.dailypay.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/dailypay","https:\/\/x.com\/dailypay","https:\/\/www.instagram.com\/trydailypay\/","https:\/\/www.linkedin.com\/company\/dailypay-inc\/","https:\/\/www.youtube.com\/channel\/UCOHcuqx2v4Yqpm1bdt1AMWA"]},{"@type":"Person","@id":"https:\/\/www.dailypay.com\/#\/schema\/person\/0dc5e72435b747402bdc50b62513acd9","name":"DailyPay","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/e42f21a99897a3d3491b8b93da6117f50707d53af06c27b3db445d48b6477a8a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e42f21a99897a3d3491b8b93da6117f50707d53af06c27b3db445d48b6477a8a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e42f21a99897a3d3491b8b93da6117f50707d53af06c27b3db445d48b6477a8a?s=96&d=mm&r=g","caption":"DailyPay"},"description":"DailyPay, the leading provider of the daily pay benefit \u2014 a benefit offered through employers that allow employees to receive instant access to their earned income, works across a wide range of industries, including quick service restaurants, hospitality, retail, healthcare and other services. One in six Americans now has access to DailyPay through our trusted payroll service partners, including ADP, Paycor, SmartLinx, Netspend and other HR and payroll technology providers, who offer the daily pay product to their customers. With DailyPay, employees can pay bills on time and avoid late fees, helping them to reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York.","sameAs":["https:\/\/www.facebook.com\/trydailypay\/","https:\/\/www.linkedin.com\/company\/dailypay-inc\/","https:\/\/x.com\/dailypay"],"url":"https:\/\/www.dailypay.com\/author\/dailypay\/"}]}},"_links":{"self":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/posts\/21160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/comments?post=21160"}],"version-history":[{"count":0,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/posts\/21160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/media\/20683"}],"wp:attachment":[{"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/media?parent=21160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/categories?post=21160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dailypay.com\/wp-json\/wp\/v2\/tags?post=21160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}