Four easy ways to start putting aside rainy day money

Jun 22, 2018, 7:17 PM | Updated: Feb 7, 2023, 11:20 am

SALT LAKE CITY, Utah – You just never know when you’ll get hit by one of life’s little emergencies. But, they can easily turn into a big disaster when you don’t have any money to cover them.

A recent Federal Reserve survey of 5,000 Americans found nearly half didn’t even have $400 saved up for an emergency.

Bankrate has found nearly one in four Americans have no emergency savings at all. Many people surveyed by Bankrate said if an emergency does come up, they will have to use a credit card to cover it, or borrow money from family or friends.

Fortunately, there some easy ways to get started on putting together a fund large enough to handle one of life’s emergencies.


First, consider selling things you don’t need. Stuff like old clothes, toys, unused electronics, dusty exercise equipment can be turned into cash. Sell them on eBay, KSL Classifieds, or at a consignment shop or yard sale.


Next automate your savings, so part of your paycheck goes straight into your rainy day fund. You don’t have to think about it. Out of sight, out of mind.


Apps like Acorns, Digit and Qapital not only automate your savings, they can turn invest your money for a return. KSL Newsradio’s Heather Kelly started investing $5 a week with the micro-investing app, Stash, before upping it to $20 weekly. Three months later, her “stash” grew to $324.

“What if I blow out a tire?” Kelly told KSL. “I can now cash in this stash and buy myself a new tire.”


Also, go over all your monthly and yearly memberships. Streaming services, preferred shopper clubs, magazines and here’s a big one: gyms. These payments add up, so cancel the ones you’re not using and stash that money in your rainy day fund.

KSL 5 TV Live


Matt Gephardt being shown the double payments that Terry Hutchings has been getting....

Matt Gephardt and Sloan Schrage, KSL TV

Get Gephardt helps homeowner being charged two bills for one security system

Billing for a previous home initially stopped when she sold it, but when she got a new security system from the same provider for her new place a year later it started billing for both.

22 hours ago

The Utah State Hospital sign in Provo, Utah....

Daniel Woodruff

A developer has big plans for the Utah State Hospital property

The latest effort to move the Utah State Hospital for a new development plan has failed this legislative session.

22 hours ago

The Consumer Product Safety Commission announced February 29 that Heritage Store Hydrogen Peroxide ...

John Towfighi, CNN

Mouthwash recalled nationwide over poisoning risk

One brand of hydrogen peroxide mouthwash is being recalled nationwide for posing a potential poisoning risk for children.

1 day ago

FILE: Vivint Doorbell Camera (Photo by Ethan Miller/Getty Images)...

Haleluya Hadero, AP Business Writer

Some doorbell cameras sold on Amazon and other online sites have major security flaws, report says

Consumer Reports says some doorbell cameras sold by Amazon and other online retailers have security flaws that could allow bad actors to view footage from the devices or control them completely.

1 day ago


Daniel Woodruff

Utah Legislature approves allowing more children at unlicensed day care facilities

A bill in the Utah Legislature that aims to allow unlicensed providers to care for up to eight children instead of six passed the house and senate. It now awaits Gov. Cox's signature.

2 days ago

Neilson-Berg explaining the hassles and trouble she has been going through to get into contact with...

Matt Gephardt

Get Gephardt helps Google Fiber customer get her internet fixed after customer service calls go nowhere

When a Salt Lake City woman's internet connection went down, and she couldn't get a straight answer as to when it would be back up, she decided to Get Gephardt.

2 days ago

Sponsored Articles

Modern chandelier hanging from a white slanted ceiling with windows in the backgruond...

Lighting Design

Light Up Your Home With These Top Lighting Trends for 2024

Check out the latest lighting design trends for 2024 and tips on how you can incorporate them into your home.

Technician woman fixing hardware of desktop computer. Close up....

PC Laptops

Tips for Hassle-Free Computer Repairs

Experiencing a glitch in your computer can be frustrating, but with these tips you can have your computer repaired without the stress.

Close up of finger on keyboard button with number 11 logo...

PC Laptops

7 Reasons Why You Should Upgrade Your Laptop to Windows 11

Explore the benefits of upgrading to Windows 11 for a smoother, more secure, and feature-packed computing experience.

Stylish room interior with beautiful Christmas tree and decorative fireplace...

Lighting Design

Create a Festive Home with Our Easy-to-Follow Holiday Prep Guide

Get ready for festive celebrations! Discover expert tips to prepare your home for the holidays, creating a warm and welcoming atmosphere for unforgettable moments.

Battery low message on mobile device screen. Internet and technology concept...

PC Laptops

9 Tips to Get More Power Out of Your Laptop Battery

Get more power out of your laptop battery and help it last longer by implementing some of these tips from our guide.

Users display warnings about the use of artificial intelligence (AI), access to malicious software ...

Les Olson

How to Stay Safe from Cybersecurity Threats

Read our tips for reading for how to respond to rising cybersecurity threats in 2023 and beyond to keep yourself and your company safe.

Four easy ways to start putting aside rainy day money