To build an emergency fund, the initial step involves accumulating $1,000 to kickstart your savings. After reaching this milestone,
the next essential step is to deposit your funds into a High Yield Savings Account (HYSA). Unlike traditional bank accounts
offering a meager interest rate of approximately 0.01%, a HYSA typically offers a more attractive interest rate ranging from 3-5%. You can establish a High Yield Savings Account with financial institutions such as Ally or SoFi.