Building an emergency fund
Prepare for an unexpected expense without needing a perfect starting amount.
- 01
Separate an emergency from a planned expense
- 02
Start with a manageable habit
- 03
Keep the plan usable
Separate an emergency from a planned expense
An urgent repair and a predictable annual bill belong in different parts of your plan. An emergency reserve is for costs you could not reasonably schedule.
Start with a manageable habit
Choose an amount that fits your current cash flow. A small repeatable contribution can be more practical than a large target that prevents you paying essentials.
Keep the plan usable
Think about access, fees and how you would replenish the reserve after using it. Revisit the plan when household income or responsibilities change.
Your take-away checklist
- Name one unexpected cost you want to prepare for.
- Choose a first contribution you can sustain.
- Write down when you will review the reserve.
Print this page or copy the checklist to your own notes; no personal information is required.
Further reading & source
Financial Consumer Agency of Canada — Setting up an emergency fundThis is an educational summary. The Vietnamese text is not an official Government of Canada translation.
General education, not individual financial, tax, legal or insurance advice. Examples are illustrative.