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Emergency Fund Calculator: How Much Will Protect You?
Aim to save three to six months' worth of expenses in your emergency fund.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
An emergency fund cushions against surprise financial setbacks. Use our emergency fund calculator below to help you pinpoint your savings goal.
Sudden car repairs, medical emergencies or job loss can all lead to unexpected debt if you're not prepared. How much should you save to safeguard your finances? It's difficult to predict how much these or other emergencies could cost — but three to six months' worth of expenses is a good goal. If that seems too steep, saving even $500 will help you avoid going into debt to finance a small car repair or medical bill.
A savings account is the best place to keep your emergency fund — it provides easy access to cash if you need it. And a high-yield savings account will help you grow your balance by paying a higher-than-average interest rate.
0.60%0.60% APY (annual percentage yield) with $0 minimum balance to earn stated APY. Accounts must have a positive balance to remain open. APY valid as of 04/22/2022.
0.60%APYs are subject to change at any time without notice including after an account is opened. Offers apply to personal accounts only. Fees may reduce earnings. Member FDIC.
0.60%0.60% APY (annual percentage yield) as of 4/28/2022. Terms Apply.
Min. balance for APY
$1
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
5.00%The Aspiration Save Account’s up to 5.00% Annual Percentage Yield (“APY”) with up to 83x the national interest rate is variable, subject to change, and only available to customers enrolled in Aspiration Plus after conditions are met. Customers not enrolled in Aspiration Plus receive 3.00% APY after conditions are met.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
1.85%APYs are subject to change at any time without notice. Offers apply to personal accounts only. A penalty may be imposed for early withdrawals from a CD. After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time. Fees may reduce earnings. Member FDIC.
0.25%You’ll qualify for an annual percentage yield of 0.25% if you opt out of paper statements and have at least one electronic deposit made to your account each month, such as a direct, ATM or mobile deposit or a transfer from another financial institution.