According to an analysis from JP Morgan Chase, a majority of families in the U.S. don't have enough money saved in an emergency fund. The research recommends families aim to save at least six weeks of take-home pay. This is a departure from the traditional recommendation of saving three to six months' worth of take-home pay. The reasoning is that a smaller buffer can help families weather a financial upset, such as a reduction of wages or a spike in expenses. With financial ruin one unexpected expense away, this statistic emphasizes how critical building an emergency fund is for a long-term financial health.