Establishing an emergency fund with a minimum of $1,000 should be a top priority when building any budget. Once this amount is in place, don’t stop there; some financial planners say that you should have six months worth of expenses in an emergency fund. The emergency fund should be kept liquid in either a savings or money market account. Set goals for yourself for what you want to save on either a weekly or monthly basis and do whatever it takes to stick to these goals. Setting both short and long term goals for building your emergency fund is also a good idea. After the fund is in place, continue growing it while enjoying more peace of mind that an unexpected financial item can be covered instead of disrupting the financial stability you are working towards.