How Priya Built a $12,000 Emergency Fund in 10 Months
By TrackMoola Team · February 13, 2026
AI Generated by TrackMoola
The Wake-Up Call
Priya's car broke down on a Tuesday morning. The repair bill was $1,400. With only $200 in her savings account, she had to put it on her credit card at 19.99% interest. "That was the moment I realized I was one bad day away from a spiral," she said.
Step 1: Finding Out the Number
Priya used TrackMoola's Emergency Fund Calculator and entered her monthly expenses: $1,800 rent, $350 utilities, $600 groceries, $250 in minimum debt payments, and $200 for other essentials. The calculator told her she needed $9,600 for a 3-month fund—or $19,200 for the recommended 6 months.
She chose to start with 4 months: $12,800. The pie chart showed her housing was eating 56% of her essentials. "Seeing the breakdown made me realize where my money was actually going."
Step 2: Setting Up Her War Chest
The calculator showed that if she saved $1,200 per month, she'd hit her target in about 10 months. But where should she park the cash?
She clicked through to the HISA Comparison Tool and entered her $12,000 target. EQ Bank's 4.00% rate came out on top, projected to earn her $244 in interest over the 10-month savings period—compared to a regular savings account that would earn less than $10.
Step 3: Automating the Process
Priya set up a recurring $1,200 transfer on payday. "I treated it like a bill. The money moved before I could spend it." She checked her progress quarterly using the calculator's progress bar to stay motivated.
The Payoff
Ten months later, Priya had $12,244 in her EQ Bank HISA. When her laptop died the following month, she didn't flinch—she paid the $900 repair from her emergency fund and started rebuilding.
"The biggest change wasn't the money. It was the feeling. I stopped living in fear of the next surprise bill."
Your Turn
Ready to build your safety net? Start with the Emergency Fund Calculator to find your number, then use the HISA Comparison Tool to maximize your interest. Read the step-by-step guide for detailed instructions.