We all know the importance of saving for a rainy day, but what if you’re caught in a downpour without an umbrella? (Thanks, COVID-19!) It’s never too late to create an emergency fund.

Start by taking a hard look at your household budget and put nonessentials on pause for now. Chances are you’re already spending less on gym memberships and movie tickets, so the cuts may not be as painful as you expect.

Take stock of any potential sources of cash: stimulus checks, tax refunds, bonuses and commissions — even loan deferments. Had an event that was canceled? Put that reimbursement aside, too.

And if you’re like most people, you’ve spent the past few months at home, cleaning out closets and storage areas. Take that stash of books, clothes and toys and sell it online or at your local resale shop.

Shift all savings to your newly minted emergency fund with a small, attainable goal in mind. Even a little nest egg is better than none at all.

Learn more about the Credit Union’s Emergency Fund savings account.