Finance
What Happens If You Build a 6-Month Emergency Fund?
The Answer
2.5 years to fully fund
The Full Picture
A 6-month emergency fund for someone with $2,500/month in expenses means saving $15,000. At $500/month in savings, you reach that goal in 30 months. Park it in a high-yield savings account at 5% APY and it earns $750/year just sitting there as your financial safety net.
By the Numbers
Target emergency fund$15,000
Monthly savings$500
Time to goal30 months
Annual interest at 5% APY$750
Change the numbers
These numbers are just a scenario. Use our Savings Calculator to see what your specific situation looks like.