Module 2 | Saving

Emergency funds

🤔 What is an emergency fund?

An emergency fund is a portion of money set aside for when emergencies happen. We don’t know when something unexpected could happen, and that’s exactly why having one is so important.


Life can take unexpected turns, so we should learn to expect the unexpected. Your car could randomly break down, your pet could get sick, or you might need to fund a trip to urgently visit a loved one.

That’s why there are many benefits to an emergency fund, because it can:

🤔 How big should my emergency fund be?

$1000 is a good place to start, for small emergencies you might face here and there. If you live away from home, aim to have enough savings to cover 1-3 months of basic living expenses. We’ll cover practical ways you can do this next.Â