Emergency Fund Checklist
Create and maintain a financial buffer for unexpected expenses.
- Calculate essential monthly expenses.
- Choose a coverage target appropriate to your circumstances.
- Separate emergency savings from routine spending money.
- Set an automatic recurring contribution where practical.
- Define what qualifies as an emergency before using the fund.
- Prioritize accessibility and understand account restrictions.
- Replenish the fund after using it.
- Review the target after major changes in expenses or household income.