That emergency fund is much more difficult to determine and while most finance folks suggest six months, that is usually based on current working expenditures and not the seriously downgraded life without work. I have found most people I have spoken with confident in their resourcefulness during times of crisis.

If they can put $25 a week or $100 a month into an account - a money market fund with limited check writing privileges would be better than tying the cash up in CDs, and increasing those contributions with every pay raise you receive or any bonuses such as tax refunds, it will build quickly and somewhat painlessly.

And speaking of tax issues, especially around this time of year - if your refund is well over $500, you need to adjust your withdrawals. You are leaving good money in the hands of the people who offer you no interest and no protection from inflation.

And one last thought: floating the funds via a credit card is how many folks get into trouble in the first place. Focusing instead on living low(er) now and stopping those unnecessary leaks in everyday life such as fees and debt service costs. You will, without a doubt free up much more cash to get those emergency funds funded and that retirement plan rolling.