A substantial amount of money needs to be kept in savings to survive a recession in the Western states. Key findings from a new GOBankingRates study examined how much liquid assets an emergency fund must possess to cover expenses during a recession. In California, you would need at least $87,000 to fund nine months. And in Hawaii, your emergency fund would need more than $104,000 in cash in it.
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Here’s the amount of cash you need on hand to survive a recession in the Western states.
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Alaska
Annual cost of living: $60,450
Emergency fund for 3 months: $15,113
Emergency fund for 6 months: $30,225
Emergency fund for 12 months: $60,450
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Arizona
Annual cost of living: $56,087
Emergency fund for 3 months: $14,022
Emergency fund for 6 months: $28,043
Emergency fund for 9 months: $56,087
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California
Annual cost of living: $87,962
Emergency fund for 3 months: $21,990
Emergency fund for 6 months: $43,981
Emergency fund for 9 months: $87,962
Colorado
Annual cost of living: $64,558
Emergency fund for 3 months: $16,139
Emergency fund for 6 months: $32,279
Emergency fund for 9 months: $64,558
Hawaii
Annual cost of living: $104,577
Emergency fund for 3 months: $26,144
Emergency fund for 6 months: $52,289
Emergency fund for 12 months: $104,577
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Idaho
Annual cost of living: $57,919
Emergency fund for 3 months: $14,480
Emergency fund for 6 months: $28,960
Emergency fund for 12 months: $57,919
Montana
Annual cost of living: $57,517
Emergency fund for 3 months: $14,379
Emergency fund for 6 months: $28,759
Emergency fund for 12 months: $57,517
Nevada
Annual cost of living: $58,665
Emergency fund for 3 months: $14,666
Emergency fund for 6 months: $29,333
Emergency fund for 12 months: $58,665
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New Mexico
Annual cost of living: $45,368
Emergency fund for 3 months: $11,342
Emergency fund for 6 months: $22,684
Emergency fund for 12 months: $45,368
Oregon
Annual cost of living: $62,701
Emergency fund for 3 months: $15,675
Emergency fund for 6 months: $31,351
Emergency fund for 12 months: $62,701
Utah
Annual cost of living: $62,806
Emergency fund for 3 months: $15,701
Emergency fund for 6 months: $31,403
Emergency fund for 12 months: $62,806
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Washington
Annual cost of living: $71,722
Emergency fund for 3 months: $17,930
Emergency fund for 6 months: $35,861
Emergency fund for 12 months: $71,722
Wyoming
Annual cost of living: $49,340
Emergency fund for 3 months: $12,335
Emergency fund for 6 months: $24,670
Emergency fund for 12 months: $49,340
Methodology: The cost of living was determined using data from Missouri Economic and Research Information Center, the Bureau of Labor Statistics Consumer Expenditure Survey, Zillow Home Value Index and the Federal Reserve. All data was collected on and is up to date as of April 21, 2025.
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This article originally appeared on GOBankingRates.com: Here’s How Much Cash You Need Stashed To Survive a Recession in the West
