How to Build an Emergency Fund

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Emergencies happen daily, and it is important to be prepared for life’s unexpected events. Now that you’ve learned different ways to stop living from paycheck-to-paycheck, it’s time to learn about how you can plan ahead for financial emergencies. Remember, an emergency fund is not for extras or wants. It is just there for when you need it the most. Instead of assigning a specific dollar amount to what is an appropriate emergency fund, it is best to see what fits you and your lifestyle. The most basic way to plan your emergency fund is to aim to have three to six months of living expenses tucked away into a savings account. This can help cover you during medical emergencies, the loss of a job or even unexpected repairs.

So, how do you build an emergency fund?

  1. Automatic Draft –If your money is out of sight and out of mind, will you really miss it? Pull away small increments automatically into separate savings accounts to add to your emergency fund over time.
  1. Set Goals – Write out a savings plan that works within your budget. Set goals and challenge yourself to beat them each month. The more you save, the better you’ll feel!
  1. Bump it Up – Raising your plan by even $20 a month can add up over time. Once you’re adjusted to not seeing this money, you won’t even notice the small increase!
  1. Coupons Galore – If you’re not using coupons, now is the time to start. Before you head out to the grocery store, look to see if coupons are available on the purchases you normally buy. Set aside your savings into your emergency fund, and you won’t even notice the difference!
  1. Let Us Help – If you need cash fast and do not have an emergency fund, TitleMax
    ™ is here to help. TitleMax® not only offers a simple way to get the money you need when you need it, but we also pride ourselves on providing excellent customer service and a very easy process. With over 1,100 convenient locations, getting cash is simple with TitleMax®! The process only takes about 30 minutes. And the best part is you get to keep driving your vehicle when you get a TitleMax® title secured loan or pawn.

Find out how much cash you can get today!

1 Title-Secured Loans, Secured LOCs and Title Pawns: Maximum pledge amount in Mississippi is $2,500. Maximum loan amount in Tennessee is $6,500, assuming customer qualifies for and accepts both the pledge max of $2,500 and Secured LOC max of $4,000. Refinancing is not available for Mississippi or Tennessee Pledge products. Minimum loan amount for title-secured loans in South Carolina is $601.

Must be at least 18 years of age (19 in Alabama). Account approval requires satisfaction of all eligibility requirements, including a credit inquiry and motor vehicle appraisal. Must present valid government issued ID. Certain other eligibility requirements and terms & conditions apply. Loan/LOC/Pawn amounts vary by states and product. LOC customers are subject to a periodic collateral review to maintain credit limit. Proof of income documentation and ability to repay analysis is required in Missouri, Nevada, some Texas locations, and Utah.

2 Personal Unsecured Loans/LOCs: Unsecured loan amounts and products not available in all stores/states. Max loan amount for first time borrowers is $1,000 ($500 for an in-store personal loan in AZ). Returning customers with a good payment history may qualify for higher loan amounts, currently up to $2,500. Loans above $1,000 ($500 for an in-store personal loan in AZ) require two consecutive pay stubs showing direct deposit. In-Store: Account approval requires satisfaction of all eligibility requirements, including a credit inquiry. Bring in proof of income (dated within the last 30 days), active bank account details (dated within the last 45 days), proof of residency, a voided check, and a valid government-issued ID to apply. In AZ, a valid AZ motor vehicle registration in your name is also required. Min $601 in SC. Without SSN or ITIN, max loan amount is $300. Online: If you do not have an SSN or ITIN, please visit us in store to apply. Additional items required for eligibility, including: a valid and active email address and telephone number, a valid SSN, and proof of residency for the state in which you are applying (currently AZ, DE, KS, MO, MS, SC, TN, TX, UT or WI). Min $610 in SC. Certain other terms and conditions may apply.

– California, Illinois and Virginia Residents: TitleMax® no longer originates new loans in CA, IL or VA, but continues to service existing loans.

– Please see our California Resident Notice at Collection and Privacy Policy: Submit a Verified Consumer Request to understand what information we collect, disclose, or sell, to request that we delete your information, and/or opt out of selling by clicking Do Not Sell My Personal Information.

– In Georgia, TitleMax offers Title Pawns.

– New Mexico Consumers: please see important New Mexico Consumer Information and Disclosures.

– In Nevada, title loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any title loan transaction. Ability to repay analysis with income documentation required.

– In Tennessee, TitleMax offers title pledges, and secured and unsecured Lines of Credit (“LOC”). Only one LOC account allowed per customer, inclusive of other lenders. LOC customers are subject to a periodic income (and collateral, if applicable) review/validation.

– TitleMax of Texas, Inc. and TitleMax Online of Texas, Inc., d/b/a TitleMax acts as Credit Services Organizations to assist customers in obtaining a loan through an unaffiliated third-party lender. Please see store associate for details. Please see Texas Schedule of All Fees. TitleMax does not offer pawn loans or pawn transactions in Texas.

– TitleMax®, TitleBucks®, and InstaLoan®, are not considered competitors. Please see a store associate for details.

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