In many cases, an unforeseen emergency -- like an accident or job loss -- can derail your financial plans. However, there are steps you can take to soften the impact of an unexpected hit to your finances. Here are a few tips on how to prepare for and survive financial hardships.

Build an emergency fund. Setting aside cash ahead of time to cover unexpected expenses can help ease stress when an emergency arises. Keep these funds in a savings account or other safe place where you don't incur investment risk and can have immediate access to the money if you need it. Three to six months of savings in an emergency fund is a good goal, but putting aside any amount that you can afford is helpful.

Include savings in your spending plan. To keep your finances in order, track your monthly income and expenses. Then make saving a part of your budget: Set an amount to be automatically withdrawn from every paycheck or schedule recurring deposits to your savings account. Consider depositing some of these funds into an individual retirement account (IRA) to begin saving for retirement. And if your company offers a retirement plan with a company match, try to contribute at least enough to take advantage of that. Even if you can only set aside small amounts, your savings will add up over time.

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Source Fool.com