If you ask just about any financial guru, one of the first things they’ll say is to set yourself up for financial success is to save an emergency fund.

Now, the amount you should have saved will likely change depending on who you speak to. Dave Ramsey’s first baby step is saving $1000 for an emergency fund. Other people will say one month worth of expenses, while others will say three or six months worth of expenses. Most will agree that before you jump into paying off debt or saving for some other purchase, an emergency fund should be in place.

Regardless of what you choose to save, it’s very important to have some money set aside for emergencies, because if we can guarantee anything, it would be that unexpected situations WILL arise. It could be the loss of a job, a broken bone, a sick pet, car trouble, etc. All sorts of things can and will happen when you least expect it. Having an emergency fund will prevent you from further plunging yourself into debt.

Even if you can’t save a lot of money, setting aside a little money each paycheck will be beneficial. It could be $500 each paycheck or even $10 per paycheck. I guarantee the future you will thank you.