2 min Read
01 Feb 2019

Written by Damien

Damien is one of the most widely quoted money and investment experts in the national press and has made numerous radio & TV appearances. He created MoneytotheMasses.com while working in the City when he became disillusioned with the way the public were left to fend for themselves because they could not afford financial advice.

More about Damien

Easy ways to build a cash buffer

It’s not about how much you save; it’s about the act of saving. It’s crucial to start building a cash buffer, also known as an ‘Emergency Fund’. At the foot of this article I explain why you need one. Even if you don’t feel like you have any spare cash there’s an easy way to start building an emergency cash fund:

What you need to do

Start saving in 2 minutes and get an instant interest rate of 3%


  1. Download the Chip saving app on your smartphone.
  2. You will now be guided through a setup "chat" with the Chip app to set things up. When prompted use the code CLEVER3 to secure your 3% interest rate
  3. Connect Chip to your bank account
  4. Turn on notifications so Chip can help you manage your saving
  5. Pat yourself on the back - you just started saving!
  6. Any interest you earn is calculated weekly and paid to your Chip account quarterly

You can change the amount that you are saving at any time and change or pause your saving goals. You are also able to talk to a person over the phone should you wish to and request to withdraw money whenever you want.

The Theory

Why is an Emergency Fund important?

It helps smooth out your budget. If unexpected expenses come up they can create havoc with your budget. If you have an Emergency Fund you can pay the bill immediately and replenish the fund over time. By doing this you can prevent yourself suddenly slipping into debt as the Emergency Fund is available where previously you might have resorted to a credit card to pay an unexpected bill.