Emergency Fund
Noun
US
/ɪˈmɜːdʒənsi fʌnd/
UK
/ɪˈmɜːdʒənsi fʌnd/
US
/ɪˈmɜːdʒənsi fʌnd/
UK
/ɪˈmɜːdʒənsi fʌnd/
Savings set aside to cover 3–6 months of living expenses for unexpected events.
Understanding Emergency Fund helps individuals manage money and plan for the future.
Also known as: Rainy Day Fund, Safety Net. Closely related to Savings, Liquidity.
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Emergency Fund - key concept in Personal Finance.
Financial planning; Job loss; Medical emergency
Applied in Personal Finance contexts: Financial planning; Job loss