Dimplo starter sheet
Do not begin with an intimidating six-month target. Begin with the surprise most likely to push your household onto a credit card, then build the next layer.
Interactive estimate
Emergency fund goal calculator
Choose a target that fits your household, then see how much remains and how long a consistent contribution could take. A larger target is not always the right first target.
Estimated target
--chosen fund target
--still to build
--estimated target month
This estimate assumes the same contribution each month and no withdrawals. Keep emergency savings accessible and adjust the target when your housing, job, health, or household situation changes.
1. Name the first emergency
| Likely surprise | Realistic cost | Existing coverage | Cash gap |
|---|---|---|---|
| Car repair / medical copay / urgent travel / home repair / other | $______ | $______ | $______ |
2. Build in layers
| Layer | Purpose | Your target | Target date |
|---|---|---|---|
| Starter buffer | One likely surprise without new debt | $______ | ________ |
| One essential month | Housing, utilities, food, transportation, insurance, minimum debt | $______ | ________ |
| Income interruption | Additional months based on job stability, health, and household support | $______ | ________ |
3. Find a contribution that survives a bad month
Reliable monthly amount: $______
Automatic transfer date: ______
Windfall rule: ______% of refunds, gifts, bonuses, or sale proceeds goes to the current layer.
Worked example
A household has only $40 per month available and worries most about a $600 car repair. The first target is $600, not a generic $15,000 goal. At $40 per month it takes 15 months, but a $200 tax refund allocation shortens the path to 10 months. After reaching $600, the same transfer begins building one month of essential expenses. The system continues even though the target changes.
4. Emergency or sinking fund?
| Question | If yes | If no |
|---|---|---|
| Do I know approximately when it will happen? | Use a sinking fund | Continue to the next question |
| Is it necessary, urgent, and outside the normal monthly plan? | Emergency fund may fit | Use normal spending or save before buying |
| Would waiting create a safety, housing, health, or income problem? | Emergency fund may fit | Pause and compare alternatives |
5. Rules for using and refilling it
- □ I wrote down what counts as an emergency before one happens.
- □ The money is separate from everyday spending.
- □ It is accessible without investment-market risk.
- □ I will restart the automatic transfer after using it.
- □ I review the target after a job, housing, health, or family change.
Primary reference
Consumer Financial Protection Bureau: An essential guide to building an emergency fund