How to build an emergency fund

20 videos · Checked and refreshed daily

Quick answer

An emergency fund is cash set aside for surprises such as a job loss, a repair or a medical bill. Two Cents explains why it matters, NerdWallet and Vanguard show how much to save and where to keep it, and MoneyHelper covers redundancy. Play all on repeat to work through it, then A–B loop the steps.

Play all on repeat

Videos in this playlist

  1. 1Why You NEED an Emergency Fund!Why You NEED an Emergency Fund!Two CentsPlay from here Loop
  2. 2Emergency Funds: How Much To Save & How To Get StartedEmergency Funds: How Much To Save & How To Get StartedNerdWalletPlay from here Loop
  3. 3How to Build An Emergency Fund - Best Options ExplainedHow to Build An Emergency Fund - Best Options ExplainedNerdWalletPlay from here Loop
  4. 4How to save for an emergency | VanguardHow to save for an emergency | VanguardVanguardPlay from here Loop
  5. 5How to plan for a financial emergency | VanguardHow to plan for a financial emergency | VanguardVanguardPlay from here Loop
  6. 6How to save for a potential job loss | VanguardHow to save for a potential job loss | VanguardVanguardPlay from here Loop
  7. 7Where To Park Your Cash | NerdWalletWhere To Park Your Cash | NerdWalletNerdWalletPlay from here Loop
  8. 8No Penalty CD vs High-Yield Savings Account: The BEST Return On Your Cash | NerdWalletNo Penalty CD vs High-Yield Savings Account: The BEST Return On Your Cash | NerdWalletNerdWalletPlay from here Loop
  9. 9The 4 Savings Accounts Everyone Needs | The Financial DietThe 4 Savings Accounts Everyone Needs | The Financial DietThe Financial DietPlay from here Loop
  10. 10Is the Savings Account Dead?Is the Savings Account Dead?Two CentsPlay from here Loop
  11. 11How to Choose Between Competing Financial Priorities (Determining the Winner)How to Choose Between Competing Financial Priorities (Determining the Winner)The Money Guy ShowPlay from here Loop
  12. 12Are You Making This Massive Mistake With Your Cash?Are You Making This Massive Mistake With Your Cash?The Money Guy ShowPlay from here Loop
  13. 13Are You Ready for a Recession?Are You Ready for a Recession?Two CentsPlay from here Loop
  14. 14How to Prepare Your Finances For A Recession | NerdWalletHow to Prepare Your Finances For A Recession | NerdWalletNerdWalletPlay from here Loop
  15. 15What To Do With Your Money When You Get Laid Off | NerdWalletWhat To Do With Your Money When You Get Laid Off | NerdWalletNerdWalletPlay from here Loop
  16. 16MoneyHelper - Redundancy and losing your jobMoneyHelper - Redundancy and losing your jobMoneyHelperPlay from here Loop
  17. 17Facing redundancy or losing your jobFacing redundancy or losing your jobMoneyHelperPlay from here Loop
  18. 18Five tips for when you can’t pay your bills - consumerfinance.govFive tips for when you can’t pay your bills - consumerfinance.govcfpbvideoPlay from here Loop
  19. 1910 Effective (and Legit) Ways to Find Fast Cash | NerdWallet10 Effective (and Legit) Ways to Find Fast Cash | NerdWalletNerdWalletPlay from here Loop
  20. 20Are Payday Loans Ever a Good Idea?Are Payday Loans Ever a Good Idea?Two CentsPlay from here Loop

How much should an emergency fund hold?

A common guideline is three to six months of essential expenses, but many people start with a smaller first goal, such as one month or a fixed starter amount. People with irregular income or dependants often aim higher. Build it step by step rather than waiting until you can save a large sum.

How do I use RepeatWatch to plan my fund?

A–B loop the part of a video that explains how to size the fund, slow it to 0.75× and work out your own essential monthly costs as you go. Save each step on keys 1–9: figure the target, pick the account, automate deposits, and decide what counts as an emergency.

Frequently asked questions

Should I save an emergency fund or pay off debt first?

Many educators suggest a small starter fund first, so a surprise bill does not go on a credit card, then focusing on high-interest debt while the fund keeps growing. The Money Guy Show's video on competing priorities explains one way to decide the order.

Where should I keep my emergency fund?

In a safe, easy-to-reach place, usually an insured savings account kept apart from your everyday account so you are not tempted to spend it. Avoid putting it in investments that can fall in value just when you need the money. Account types and protections differ by country.

Is this financial advice?

No. These videos are educational and come from the channels that published them. They are not financial, tax or legal advice for your situation. Rules, accounts and products differ by country, so for personal decisions consider a qualified, regulated adviser or a free, government-backed money service.