An emergency fund is a separate saving<\/strong> or bank account used to cover or offset the expense of an unforeseen situation, such as:<\/p>\n\n\n\n Your emergency fund should cover\u00a0at least 3 to 6 months\u2019\u00a0worth of expenses. To determine this amount, add up how much you spend in a single month on things that you can\u2019t go without (e.g. food), and the contributions you owe each month (e.g. monthly savings or a mortgage).<\/p>\n\n\n\nHow much should you save?<\/h2>\n\n\n\n
Where can you park your emergency fund?<\/h2>\n\n\n\n