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Have you just depleted your emergency fund? Here’s how to regroup:

An emergency fund is something everyone should always have. If you don’t have money in your savings account, you could end up in costly debt when you have unplanned expenses, like home or car repairs. Likewise, if you don’t have an emergency fund, you could end up with a huge credit card bill when you lose your job but still have all your bills to pay.

However, because the purpose of an emergency fund is to tap into your cash reserves in an emergency, you may reach a point where that fund is depleted. This is true even if you have a fairly large emergency fund.

The average American with an emergency fund has about $16,776 saved, according to recent data from New York Life. However, if your home needs expensive repairs, such as replacing the entire heating or air conditioning system, even that amount can easily be depleted.

If you’ve recently depleted your emergency fund, you may feel angry, frustrated, and downright anxious. Here are some steps you can take to rebuild your savings and get your safety net back:

1. Switch to the gig economy

If you’re currently working full-time, squeezing in a side hustle may not seem like a good idea. And while you don’t have to do it forever, it’s a good idea to do it now so you can grow your savings relatively quickly.

The good news is that you actually have the option to find a job that fits your schedule. This might mean typing data for an hour before going to bed or driving passengers around town for the weekend when you’re home with no other obligations.

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Of course, the more you are willing to work on your side hustle, the faster you can build up your emergency fund. That’s something you can remind yourself when you start to feel tired. And if that happens, remember that you can always temporarily reduce your work hours until you feel better able to handle more hours.

2. Big cost savings

If you used to have $15,000 in emergency savings and now have none, canceling Netflix and skipping Dunkin’ coffee once a week probably won’t hurt your progress much. So focus on those things and think big rather than denying yourself the little luxuries that make your day better.

Maybe you live in a city where having a car is nice, but it’s not necessary. Taking it down can save you hundreds of dollars each month.

3. Leave your windfall in the bank

You may end up making extra money this year on top of your regular salary or side income. For example, the IRS might send you a nice refund check in April of this year. Or, you could receive generous dividends in your brokerage account that you can cash out and put in the bank as needed.

Pay attention to when extra money comes in and resist the urge to spend it. Even a small donation can go a long way in rebuilding your emergency fund.

It can be very frustrating to see all the savings you’ve built disappear. But remember, that’s what savings are for, and fortunately, you can cover unexpected expenses without going into debt. And if you follow these steps, you may find that you can replenish your emergency fund sooner than you expect.

This savings account is FDIC insured and can earn you 10x what your bank earns.

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