Rainy Day Savings

It’s a necessity to have savings tucked away for unexpected “financial emergencies” such as legal or medical bills or the loss of a job. Planning ahead can make these types of events easier to handle. Determine how big your emergency savings needs to be by figuring how much money you need to make ends meet. Once you know what you will need, put together a plan based on your current savings, monthly savings, and the number of months you want to take to build your emergency savings fund.

Use our calculator below to see how much you might need to save to properly fund your emergency savings account. Then, be sure to review the variety of savings accounts that Amboy offers.

When you are trying to compile savings for a rainy day, time, money and rate of return will all be determining factors of when you will meet your savings goal.

Take a few minutes to play with the numbers in our calculator below to estimate how long it might take you to save for your goal. Then, look to Amboy to see which of our savings accounts, money market accounts, and CDs would work best for you!
 

Whether you’re saving for a rainy day, the future value of your savings plan depends on the starting balance, additional monthly savings, and the rate of return you receive on those savings.

Our calculator below can give you an estimate of where your savings are headed. For the most accurate valuation, you will have to separate taxable accounts such as savings and CDs from your tax-deferred accounts such as 401(k)s and college 529 plans. Then, look to Amboy to see which of our savings accounts, money market accounts, and CDs would work best for you!