To calculate an emergency fund goal: (1) Review the past 12 months of bank and credit card statements to identify spending on essentials. (2) Add up the total costs of these essentials. (3) Divide the total by 12 to determine average monthly living expenses. (4) Multiply the average monthly expense by three or six to set the target goal.

Authors

• Person: Not available Organization: AARP
  Tips for Building or Rebuilding Your Emergency Fund - AARP

Sources

• Tips for Building or Rebuilding Your Emergency Fund - AARP www.aarp.org AARP via serper

Referenced by nodes (1)

• emergency fund concept