When something happens that you don’t expect, like losing a job or needing to care for a sick family member, having enough to cover three months of expenses helps you make it through tough times without having to resort to credit cards or loans.
The save-enough-to-live-on insight will let you know how many days you could sustain your lifestyle if you lost your income today. This is calculated by adding up your checking and savings accounts, and looking at your average spending over the last 90 days.
1. Click to see the specific accounts and transactions that are being used to calculate your ability to cover expenses.
2, Click to return to the insight.
3. Continue scrolling to see your projected savings over the next 6 months and a chart of your available cash over time.
When you’re ready click “financial summary” to return to the main page.
Having an emergency fund with at least $1,000 dollars in it means you don’t have to worry about unexpected accidents or issues that arise. The maintain-emergency-savings insight will let you know if you have at least $1,000 in your savings account.
To learn more about the FinStrong tool, watch the quick clip here.
Disclaimer: The functionality of this software varies depending on which financial institution you use. Not all content in this help center will apply to your experience.