Emergency Fund
Do you have enough money to cover an emergency? Look at your finances to determine how much you should be saving in preparation for the unexpected. A typical emergency fund should cover 3-6 months of expenses.
Assumptions:
Current emergency funds available
Number of months you want the emergency funds to last
Number of months you think you will need to build an emergency fund
Expenses:
or Itemize Monthly:
Mortgage or rent payment
Vacation home (mortgage)
Automobile loan(s)
Personal loan(s)
Charge accounts
Federal income tax (per month)
State income tax (per month)
FICA (social security tax - per month)
Real estate taxes (monthly)
Other taxes
Utilities
Household repairs and maintenance
Food
Clothing and laundry
Educational expenses
Childcare
Vehicle expenses (gas, repairs, etc.)
Other transportation expenses
Life insurance premiums (monthly)
Homeowners/renters insurance (monthly)
Automobile insurance (monthly)
Medical, dental and disability insurance (monthly)
Entertainment and dining
Recreation and travel
Club membership
Hobbies
Gifts
Major home improvements and furnishings
Professional services
Charitable Contributions
Results
Emergency Fund Analysis:
Monthly living expenses
Share