Save 3 to 6 months of expenses
It’s time to fully fund your emergency savings to cover 3 to 6 months of expenses in case of life’s unforeseen events. This will help you stay out of debt and pay for unexpected events in cash.
1. Adjust your budget.
Your 3 to 6 months of savings will cover food, housing, utilities, transportation, and other necessary expenses in case there is a loss of income.
Use our Freedom Savings Calculator to know how much you need to save for 3 to 6 months of expenses.
Another way to build your savings? Any money previously used to pay off your debt can now be added to your savings instead.Learn More About Goals and Budgets Setup Goals and Budgets
Freedom Savings Calculator
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation.
2. Open a separate savings account.
A separate savings account helps you earn interest on the money you’re saving while keeping your 3 to 6 months of expenses out of sight and out of mind.Learn More About Our Savings Options
To open a Savings account now, simply choose Apply Now at the top of this page and select Deposit Account.
To open your account, be sure your browser is set up to allow for pop-ups.
Save 3 to 6 months of expenses - Milestone 4
"I’m a first-generation college student and am debt free. I haven’t taken out any loans for school. Even though I got laid off, I had a 6-month emergency fund, so I didn’t need to worry. The security of having money saved up for bills and necessities kept me at peace. I’m now saving up for retirement and waiting for the day I can give like no one else because I’ve been fortunate enough to learn the values of a budget, saving and investing!"
Destiny — Casselberry, FL