What is an Emergency Fund?

Emergency Funds are simply savings accounts that protect your finances when the unexpected happens. Experts believe saving 3-9 months worth of expenses gives you enough time to prepare for the next step in life, but it all depends on your current spending habits.

Use this calculator to determine how much your Emergency Fund should hold.

You can also use our Short Term savings calculator to create a savings plan to fund your account.

It only takes a couple simple steps to begin your Emergency Fund.

  • Login to Founders Online and select “Add Account-Deposit Account.”

  • Select “Savings” from the drop down menu under “Share Type.”

  • Once the application is finished, you can then rename the account to “Emergency Fund.”

  • Use the calculators above to determine how much is needed to fund your account on a weekly or monthly basis to reach your end goal.

Tip: Easily fund your account by setting up automatic transfers from a Checking Account.