Calculate how much emergency savings you need
$24,000
6 months × $4,000
$19,000
38 months
At $500/month
• Keep your emergency fund in a separate, easily accessible savings account
• Start with 3 months of expenses, then aim for 6-12 months
• Only use it for true emergencies like job loss, medical expenses, or urgent repairs
• Replenish your fund if you withdraw from it