Lesson 2: Building Your Financial Safety Net - Template
Emergency Fund Calculator
Monthly Essential Expenses
Expense Category | Amount |
Housing (rent/mortgage) | £ |
Utilities (electric, gas, water) | £ |
Food/Groceries | £ |
Transportation (fuel, public transport) | £ |
Insurance premiums | £ |
Minimum debt payments | £ |
Phone/Internet | £ |
Healthcare | £ |
Childcare (if applicable) | £ |
Other essential expenses | £ |
TOTAL MONTHLY ESSENTIAL EXPENSES | £ |
Emergency Fund Target Calculation
Factor | Your Situation | Recommended Months | Your Selection |
Income stability | â–¡ Very stableâ–¡ Somewhat stableâ–¡ Variable/unstable | 3-44-56+ | |
Household structure | â–¡ Dual incomeâ–¡ Single income | 3-45-6+ | |
Job specialization | â–¡ Easily transferable skillsâ–¡ Specialized career | 3-45-6+ | |
Health considerations | â–¡ No concernsâ–¡ Some concernsâ–¡ Significant concerns | 34-56+ | |
Support network | â–¡ Strongâ–¡ Limitedâ–¡ None | 34-56+ | |
YOUR SELECTED NUMBER OF MONTHS |
Your Full Emergency Fund Target: £________ (Monthly Essential Expenses × Selected Months)
Emergency Fund Building Plan
Stage | Target Amount | Current Amount | Monthly Contribution | Estimated Completion Date |
Mini Emergency Fund | £1,000 | £ | £ | |
1 Month Fund | £ | £ | £ | |
Full Emergency Fund | £ | £ | £ |
Emergency Fund Decision Tree
Is this a true emergency? Ask yourself: - Is it unexpected? - Is it necessary? - Is it urgent? - Does it affect health, safety, or ability to earn income?
If YES to ALL → Proceed to withdrawal consideration If NO to ANY → Stop and consider alternative funding
Withdrawal Consideration: - Can this expense be delayed for 72 hours? - Is there any way to reduce the amount needed? - Have I explored all other options (negotiation, payment plans)?
After Using Emergency Fund: - Date used: _______________ - Amount used: £___________ - Reason: _________________ - Plan to rebuild: __________ - Target date to replenish: ____________
Emergency Fund Account Information
Primary Emergency Fund Account - Bank/Institution: _______________ - Account Number: _______________ - Access Method: ________________ - Current Balance: £_____________ - Interest Rate: ____%
Secondary Emergency Fund Account (if applicable) - Bank/Institution: _______________ - Account Number: _______________ - Access Method: ________________ - Current Balance: £_____________ - Interest Rate: ____%
Emergency Fund Progress Tracker
Date | Deposit Amount | Withdrawal Amount | Balance | % of Goal Completed |
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