Save An Emergency Fund Have you even heard of Murphy's Law? Murphy's Law says "If anything can go wrong, it will". A little pessimistic, but sometimes it feels like it is true. Money Magazine says that 78% of Americans will have a major negative event in any given 10-year period. Sounds like we need to be ready for it. The interesting thing about unexpected expenses is that they are really not unexpected at all. In general terms, they are completely expected. You may not know the details (the what, when, and how much), but a negative event is very likely to happen. The reason you have the emergency fund is to prepare for these "expected "unexpected events. Financial Planners usually encourage their clients to save at least 3 to 6 months of expenses as an emergency fund. We recommend you place those funds in a savings or money market so that they can be easily accessed without penalty if needed.