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Emergency fund: What, how, and how much

June 23, 2023

Life often throws unexpected curveballs, and having an emergency fund can be a lifesaver. In this post, we'll explore what an emergency fund is, how much you should save, and how to build one with your bunq bank account.

What is an emergency fund?

An emergency fund is a stash of money set aside to cover unforeseen expenses like medical bills, car repairs, or job loss. It acts as a financial safety net, preventing you from dipping into your long-term savings or racking up debt when emergencies arise.

How much money do people usually keep as an emergency fund?

The amount you need in your emergency fund depends on your personal finance situation and lifestyle. A common rule of thumb suggests saving 3-6 months' worth of living expenses. However, if you have dependents or a fluctuating income, you may want to save more.

Where do people keep their emergency fund?

It's essential to keep your emergency fund separate from your daily spending money. A savings account is an excellent option, as it offers easy access to your funds while earning interest. With bunq, you can create multiple Bank Accounts to manage your finances better and designate one specifically for your emergency fund.

How to build your emergency fund?

Building an emergency fund takes time and discipline. Here are some steps to help you get started:

  • Set a goal: Determine how much money you'd like to have in your emergency fund based on your living expenses and financial obligations.
  • Create a budget: Track your spending and identify areas where you can cut back to free up extra cash for your emergency fund.
  • Automate your savings: With bunq's Auto Save feature, you can automatically transfer a percentage of your income to your emergency fund every time you get paid.
  • Adjust your goal as needed: Reassess your emergency fund goal periodically and adjust it based on changes in your financial situation or living expenses.


Having an emergency fund is crucial for maintaining financial stability when life throws unexpected challenges your way. By setting a goal, creating a budget, and using bunq's features like Auto Save and Bank Accounts, you'll be well on your way to building a solid emergency fund. Start saving today with a bunq bank account!

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