Saving and Emergency Funds
Why people set money aside for the unexpected, where savings are commonly kept and how a savings goal is put into numbers.
5 lessons · Estimated time: about 2 hours
Overview
Unexpected bills are a normal part of life: a car repair, a medical bill, a gap between jobs. This course explains the idea of an emergency fund, the difference between an emergency and a planned expense, and the general features of the accounts where savings are often kept.
It describes approaches people use rather than prescribing an amount; the right figure is different for every household.
What you'll learn
- What an emergency fund is and what it is usually meant to cover
- How emergencies differ from planned and irregular expenses
- General features of savings accounts and deposit insurance
- How a savings goal is turned into a monthly amount
- How automatic transfers and one-time money are used to save
Lesson outline
- 1. What an emergency fund is for Free sample
- 2. Where savings are often kept Members
- 3. Setting a savings goal Members
- 4. Automating savings Members
- 5. Saving for irregular and future goals Members
Estimated time: about 2 hours, in lessons of 20 to 30 minutes.
Take the whole course.
Lesson 1 of every course is a free sample. Lessons marked Members are part of the $12/month membership in this sample program.
Demonstration site: enrolling sends nothing and creates no enrollment. Courses are general education, not financial, legal or credit advice; they explain how things work and don't review anyone's situation.