Did you know that 57 million Americans have no emergency savings? According to CNBC, a single unplanned expense can send countless families into financial doom. The data shows that people with an emergency is down 24% compared to last year. Whether it’s the skyrocketing rates of health care or low-paying jobs, having a cushion to fall back on during an emergency is critically important.

How Much Should You Have in an Emergency Fund?

Many financial advisors claim that 3-to-6 months’ worth of living expenses in the bank is best for an emergency fund. However, Suze Orman, financial expert and former CNBC TV host, gives the following advice:

Orman explained that three to six months’ worth of expenses isn’t enough to feel secure. What if you lose your job and can’t find another one for a year? What if you’re hit with an out-of-the-blue medical emergency? A million potential scenarios could drain your savings without warning, so it’s better to have at least eight to 12 months’ worth of living expenses squirrelled away.

Whether you decide that 3 months or 12 months of savings is the right amount for you to feel secure, here is how you can get started on padding your bank account:

Adjust Your Withholding

The average American tax refund in 2017 was $3,050. This equals an average of $250 per month. By adjusting your withholding allowances on your W-4, you can keep this money in your savings instead of handing it over to the government. If you are reluctant to move forward with this approach, speak with an accountant to learn the right adjustment for you to save some extra money.

Start Selling

You might be surprised at how much you can sell from your home. If there are clothes in your closet that you haven’t worn for a year, you can sell these to consignment shops if they’re name brand items. You can also sell movies you don’t watch or collector’s items that simply don’t interest you anymore. Gaming systems can also be worth some cash.

Cut Out One Splurge Per Month

If you regularly treat yourself to manicures, movies, or nights out on the town, scale back by cutting out one splurge per week. You can easily save $50 or more by skipping these splurges and adding to your bank account instead.

Try Doing Some Side Work

No one wants to work more than necessary, but if you need to get some cushion in your bank account, side work might help your cause. There are countless ways to learn money online today, and many opportunities are legitimate.

For example, you can sell some photos you take with your smartphone to foap.com. You can even get paid to listen to new music on musicxray.com

If working online isn’t your thing, try out jobs such as babysitting, dog sitting, plant sitting—you get the idea.

Start Your Financial Safety Net Sooner than Later

No one wants to be stuck with an emergency with no funds in the bank. Start saving now for extra peace of mind and more money in your wallet. For more tips and ideas on wealth building, continue to follow our blog at Best Life Hub.