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Handling the Unexpected: Emergency Fund

Provided by Visa, Content Partner for the SME Toolkit


Emergency Fund

Prepare for the unexpected by saving three to six months of living expenses. An emergency fund should be easy to access in the event of unemployment, illness or a major unplanned expense. Use this calculator to see how much you need to put aside for your emergency fund.

Assumptions:

Current emergency funds available
Number of months you want the emergency funds to last  
Number of months over which you want to accumulate your emergency fund  

Expenses:

Total monthly living expenses. If you plan to itemize (below), leave blank

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
Child care
Automobile expenses (gas, repairs, etc.)
Other transportation expenses
Life insurance premiums - monthly
Homeowners/renters insurance (monthly)
Automobile insurance (monthly)
Medical, dental and disability insurance
Entertainment and dining
Recreation and travel
Club dues
Hobbies
Gifts
Major home improvements and furnishings
Professional services
Contributions
 

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