As summer kicks off in the Northland, it’s a great time to plan for more than just recreation—like building an emergency fund. On Money Matters Monday, local financial expert Barry Bigelow shared how to get started.

“When the boat doesn’t work the week before fishing season, that’s an emergency you need an emergency fund for,” Barry said. “It’s really about having money set aside for unexpected expenses so it doesn’t become stressful.”

Barry recommends saving three to six months of expenses, or even more in places like Minnesota and Wisconsin. “Winter is expensive. Recreation can be expensive. You want to look at that savings and feel relief.”

Bigelow encouraging to start small, “The biggest mistake is getting overwhelmed,” Barry said. “Just say, ‘This week I’m going to save $5.’ Then do it again next week. Make it a habit.”

Still, it can be confusing on where to keep this emergency money. Yet, Barry recommends, using a high-yield savings or money market account with 3–5% interest, and make sure it’s accessible within a week.

Bigelow stressing, if you use it there are ways to rebuild. “If you’ve built it once, you know how. The habit will carry you,” Barry noted.

Emergencies don’t wait—so start now. “It’s not about having it today. It’s about building the habit that gets you there.”