16 guides
Emergency fund and sinking fund guides
Plain-English guides to saving ahead. General education, not financial advice: we don't recommend specific banks or products, and nobody pays us to mention them.
Emergency fund
What it's for, how much you need, and how to start.
- What an emergency fund is (and isn't)
Money set aside for the unexpected, kept separate and easy to reach.
- How much should your emergency fund be?
Count months of essential costs, not months of salary.
- Build a starter emergency fund fast
Get to your first $500 or $1,000 in weeks, not years.
- Is this an emergency? A quick test
Three questions to ask before you dip in.
Sinking funds
Saving ahead for the bills you know are coming.
- What sinking funds are and why they work
Save a little each month for bills you know are coming.
- Choose your first sinking funds
Start with three to five, based on last year's surprises.
- Sinking funds for car and home repairs
For the costs you know will come, just not exactly when.
- Funds for irregular or seasonal income
Smooth out the lean months with a pay-yourself buffer.
Where to keep it
Savings accounts, buckets, automation and refilling.
- Where to keep your funds: high-yield savings basics
Safe, easy to reach and earning something.
- One account or many?
Separate accounts, buckets or a spreadsheet: pick what you'll stick with.
- Automate it: save on payday, not at month-end
Make saving happen before you can spend the money.
- Refilling your fund after you use it
A simple plan to get back to your target.
Finding the money
Small changes, windfalls and staying motivated.
- Find money to save in a tight budget
Small, realistic changes that add up.
- What to do with a tax refund or windfall
A simple split so some of it builds your funds.
- Saving when money is really tight
Start small, protect the essentials, and use the help that exists.
- Stay motivated: make progress visible
Trackers, milestones and small rewards.