Stash Savings is designed to create an emergency fund (aka rainy-day savings), which is key to a less stressful (and more hopeful) financial life.

You can earn a high interest rate on the first $2,500 to help you stay motivated. The $2,500 figure was chosen because experts found that this amount protects you from the worst effects of a “shock” to income or expenses (like losing your job or needing to move quickly).

The $2,500 can keep you from getting evicted, losing your car, or having utilities turned off. It can also keep you from relying on high-interest expensive loans or overdrafts when things in life go a little sideways.

Another guidepost for emergency savings is 3 months of living expenses. So, if I think I can pay all my bills with $3,000 a month, that means my emergency savings should be $9,000. The earlier $2,500 goal will keep things from going bad, and the 3 months of living expenses can help you even more smoothly deal with challenges – things like leaving a bad relationship or a really expensive car repair. Having money in an emergency savings account, like Stash Savings, will help make bad things less bad.

They’re both good “guideposts” for savings goals, and it’s always better to have some savings rather than no savings, so don’t get hung up if both seem out of reach.

If you want to calculate how long it might take you to build up your emergency fund, use our emergency savings calculator.

Open Stash Savings today! Members earn a high interest rate on the first $2,500 and earn points for keeping a $500 average balance and for feeding their savings by choosing Save the Difference and creating an Automatic Transfer into your Stash Savings. These are strategies financial experts say are key to financial well-being.