Published on Financial Calculators for Union Savings Bank (https://www.fintactix.net/usb)

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Save for a Rainy Day

It is always a good idea to have savings tucked away for a rainy day. Emergencies such as legal or medical bills or loss of a job can all force you into 'rainy day' mode. Planning can make these types of events easier to handle. Determine how big your rainy day savings need to be by factoring in emergency spending needs and essential spending needs if your source of income is interrupted. Once you know what you will need, put together a plan based on your current savings, monthly savings and the number of months you want to take to build your rainy day fund.

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Calculators are provided for illustrative and educational purposes only and we do not guarantee their accuracy. We encourage you to contact a qualified financial professional concerning questions about your personal or business finances.


Source URL: https://www.fintactix.net/usb/tools/savings/s07