Why Do You Need an Emergency Fund?
- Job loss or unemployment
- Medical or dental bills
- Home repairs
Buying a home. Jet setting abroad. Retiring in bliss. Sounds pretty good, right? A two-story Victorian with the white picket fence, a trip to an exotic country and life minus the 9-to-5-grind aren’t just the things of daydreams and movies. They’re financial goals that have your name written all over them. See for yourself with our financial goal calculator.
Select the financial or savings goal that you’re all about right now—or goals, plural, if you’re working toward multiple. Then input some basic info about your income, savings and regular expenses (think gas, groceries, GrubHub). Our financial goal calculator will do the number crunching so you can see how much you need to save, or how much spending to cut, each month to make your financial goals a reality. Hello, down payment!
Bonus: Use the financial goal calculator to see how your monthly and annual expenses compare to the U.S. average, and get tips to help you find the extra motivation you need to ramp up your savings and rein in your spending.
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1 Study by T. Rowe Price Retirement Plan Services.