Downloadable PDFCreating an emergency fundEmergency money accountYour mom probably told you to carry a quarter in your shoe in case of an emergency and you needed to make a phone call. Today, most of us have a cell phone handy, but when it comes to money emergencies, you'll need more than a quarter in your shoe.You need an emergency money account. That's an account that you build and leave alone except in case of emergency. Experts generally suggest you sock away three to six months of expenses in an account that is easily accessible such as a money market or savings account.Compute how much you need in your emergency savings account. Let's start with three months.My emergency fund requirementsMortgage/rent for one month ________ x 3 =$___________Auto loan for one month ________ x 3 =$___________Utilities for one month ________ x 3 =$___________Transportation for one month ______ x 3 =$___________Groceries for one month ________ x 3 =$___________Other debts for one month _______ x 3 =$___________Total amount for emergency savings account =$___________View worksheet archive advertisementRelated Links:Retirement plans for self-employed workersDid you sell stocks in the market crash?Why index funds beat active strategiesRelated Articles:All about annuitiesPros and cons of annuitiesMoney's secret meaning
Emergency money account
Your mom probably told you to carry a quarter in your shoe in case of an emergency and you needed to make a phone call. Today, most of us have a cell phone handy, but when it comes to money emergencies, you'll need more than a quarter in your shoe.
You need an emergency money account. That's an account that you build and leave alone except in case of emergency. Experts generally suggest you sock away three to six months of expenses in an account that is easily accessible such as a money market or savings account.
Compute how much you need in your emergency savings account. Let's start with three months.