Financial Planning

June Financial To-Do List + Calendar

Written by Mint.com
Published Jun 1, 2020 - [Updated Jan 13, 2021]
2 min read
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Life happens, but you can be prepared for the unexpected with an emergency savings fund. These funds are designed to be set aside for unanticipated expenses, such as:

Unexpected job loss
Unforeseen medical expenses
Car repair
Family emergencies

Emergency funds serve as an important financial buffer in the event of an emergency, and it’s easy to get started with this savings task. In this month’s financial checklist, we’re going to focus on tasks that will help you build an emergency savings fund.

June Financial Checklist: Emergency Savings

Determine how much you want to put away
Pick where to save your emergency fund
Set up automatic contributions
Pad your emergency fund
Review and adjust your contributions monthly

Let’s look at ways you can boost your savings, build your emergency fund, and keep your finances on track as we enter the second half of the year.

Determine how much you want to put away

Set a goal savings amount that is moderately challenging but attainable.

Less aggressive: 3 months of living expenses
More aggressive: 6 months of living expenses

Example: If you make $3,200 per month after taxes, you’ll want to have $9,600 to $19,200 in your emergency fund.

2. Pick where to save your emergency fund

Consider emergency savings as untouchable for expenses that are just wants – keep this money here for when you really need it.

To help resist the temptation of spending these savings, put your emergency fund in the right place:

High-yield savings account
Money market account
Certificate of Deposit (CD)
Roth IRA

Sometimes there’s not a one-size fits all solution. Consider putting emergency funds away in more than one of the above options.

3. Set Up Automatic Contributions

Funnel some of your paycheck directly into your emergency fund
Start with a small percentage, and be sure you can still live comfortably
Make contributions more aggressive over time if possible

4. Pad your emergency savings

Sell old things you no longer use
Funnel “surprise” cash into your savings
Save your tax refund
Try a no-spending challenge
Take on a side hustle

5. Review and adjust your contributions monthly

Check in each month to see how much you’re putting away
Adjust your contributions if your account isn’t building quickly enough

Key Takeaways

Prefer to organize online? Create an editable copy of our June monthly template in three simple steps:

Open our Calendar Template in Google Sheets
Select “File”, then “Make a Copy”
Save in your own Google Drive to make edits

Our finance tips can help you throughout the year so be sure to take a look! Improve your finances in 2020 with our series of financial to-do lists tailored to each calendar month.