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Handling the Unexpected: Emergency Fund

Provided by Visa, Content Partner for the SME Toolkit


Emergency Fund

Prepare for the unexpected by saving three to six months of living expenses. An emergency fund should be easy to access in the event of unemployment, illness or a major unplanned expense. Use this calculator to see how much you need to put aside for your emergency fund.

Assumptions:

Current emergency funds available RWF
Number of months you want the emergency funds to last  
Number of months over which you want to accumulate your emergency fund  

Expenses:

Total monthly living expenses. If you plan to itemize (below), leave blank RWF

or Itemize Monthly:

Mortgage or rent payment RWF
Vacation home (mortgage) RWF
Automobile loan(s) RWF
Personal loan(s) RWF
Charge accounts RWF
Federal income tax (per month) RWF
State income tax (per month) RWF
FICA (social security tax - per month) RWF
Real estate taxes - monthly RWF
Other taxes RWF
Utilities RWF
Household repairs and maintenance RWF
Food RWF
Clothing and laundry RWF
Educational expenses RWF
Child care RWF
Automobile expenses (gas, repairs, etc.) RWF
Other transportation expenses RWF
Life insurance premiums - monthly RWF
Homeowners/renters insurance (monthly) RWF
Automobile insurance (monthly) RWF
Medical, dental and disability insurance RWF
Entertainment and dining RWF
Recreation and travel RWF
Club dues RWF
Hobbies RWF
Gifts RWF
Major home improvements and furnishings RWF
Professional services RWF
Contributions RWF
 

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