An emergency fund acts as a safety net to help finance expenses in the event of emergencies so that you don’t have to tap into savings or investments set aside for other purposes.
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Always follow this rule of thumb:
EMERGENCY FUND IS EQUAL TO 3x to 6x YOUR MONTHLY EXPENSES
Download the Target Emergency Fund worksheet here.
The calculations are for reference and illustration purposes only and does not constitute a proposal, solicitation or financial advice. Sun Life makes no representation or warranties as to its completeness or accuracy, nor is it responsible for any consequent loss or damage that may arise from its usage.
You may talk to a Sun Life Financial Advisor for a comprehensive financial needs review.