noun phrase · academic
emergency fund
UK/ɪˈmɜːdʒənsi fʌnd/US/ɪˈmɝːdʒənsi fʌnd/e·MER·gen·cy·fund
money set aside to cover unexpected expenses or emergencies
Examples
“Many advisers recommend an emergency fund that covers three months' worth of expenses.”
“She dipped into her emergency fund when the boiler broke down.”
“Building an emergency fund should be a priority before making large investments.”
Band 8 sentence
“I try to prioritise building an emergency fund so I won't have to rely on credit if something unexpected happens.”
Collocations
- build an emergency fund
- dip into an emergency fund
- maintain an emergency fund
Word family
Common mistakes
save emergency fund→save an emergency fund / build an emergency fund
I have emergency fund→I have an emergency fund
use emergency fund for long-term goals→use an emergency fund for unexpected short-term expenses
Say it for a higher band
5savings→6rainy-day fund→7+emergency fund
Synonyms
rainy-day fund
savings cushion
Easily confused
safety net
“A safety net such as unemployment benefits can help families when they lose jobs.”
Related words
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In Shopping & Money
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