Work sheet: Grow an emergency fund

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Financial Literacy - Emergency fund

TOOLS AND RESOURCES

Emergency fund toolkit

Calculators, work sheets and lots of strategies for improving your savings.

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Creating an emergency fund

Work sheet: Grow an emergency fund

Grow an emergency fund

9 ways to grow an emergency fund
	Pay off your plastic to free up your budget.
	Ask relatives for money to get a leg up on savings.
	Ask for a raise.
	Get a second job or freelance on the weekends.
	Look for lost loot in the form of expired savings bonds or old savings accounts.
	Auction off unwanted items.
	Hold a garage sale.
	Cut spending on nonessentials.
	Set up direct deposit.

Calculate how much to save per month
How much do you need for an emergency fund? $_____________
Emergency fund :	$________ / 2 months = $_______ to save per month.
Emergency fund:	$________ / 4 months = $_______ to save per month.
Emergency fund:	$________ / 6 months = $_______ to save per month.
Emergency fund:	$________ / 8 months = $_______ to save per month.
Emergency fund:	$_______ / 10 months = $_______ to save per month.
Emergency fund:	$_______ / 12 months = $_______ to save per month.
Emergency fund:	$_______ / 24 months = $_______ to save per month.
Emergency fund:	$_______ / 36 months = $_______ to save per month.

Track your savings
Month 1:	$ __________
Month 2:	$ __________
Month 3:	$ __________
Month 4:	$ __________
Month 5:	$ __________
Month 6:	$ __________
Month 7:	$ __________
Month 8:	$ __________
Month 9:	$ __________
Month 10:	$ __________
Month 11:	$ __________
Month 12:	$ __________
Total annual savings:	$ __________

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TABLE OF CONTENTS

GROWTH OPPORTUNITIES

	•	Overview: Emergency fund
	•	Take action
	•	Spotlight
	•	Poll: Emergency fund
	•	Money Makeover
	•	Tools & resources

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