How much is enough to save as a rainy-day fund before I start plugging my higher-interest student loans?

What is a good amount for a rainy day fund?

$500-$1000

A rainy-day fund should generally have $500-$1000 to ensure you have enough cash on hand to cover things such as car repairs, new appliances, etc. without affecting your monthly budget.

Where should you put your rainy day fund?

When deciding where to keep your emergency fund, consider these four different accounts that offer easy access and benefits:

• High-yield bank accounts. Sunny skies are the right time to save for a rainy day. …
• Money market accounts. …
• Certificates of deposit (CDs) …
• IRA accounts.

What state has the largest rainy day fund?

Wyoming

The highest-ranked state for total balances was the same as for rainy day funds: Wyoming (301 days).