Here’s How Much Cash You Need Stashed To Survive a Recession in the Midwest

One of the smartest moves you can make with your money is having a full emergency fund. This savings helps cover unexpected expenses such as job loss and major financial events, like a recession.

A recent study from GOBankingRates calculated the amount you would need in an emergency fund in every state. In the event of a recession, Midwesterners would need anywhere from $39,000 to nearly $50,000 in cash to cover expenses for up to 12 months.

Here’s the amount you’d need in an emergency fund to survive a recession in the Midwest.

• Annual cost of living: $44,778
• Emergency fund for 3 months: $11,195
• Emergency fund for 6 months: $22,389
• Emergency fund for 12 months: $44,778

• Annual cost of living: $41,373
• Emergency fund for 3 months: $10,343
• Emergency fund for 6 months: $20,687
• Emergency fund for 12 months: $41,373

• Annual cost of living: $39,889
• Emergency fund for 3 months: $9,972
• Emergency fund for 6 months: $19,945
• Emergency fund for 12 months: $39,889

• Annual cost of living: $39,916
• Emergency fund for 3 months: $9,979
• Emergency fund for 6 months: $19,958
• Emergency fund for 12 months: $39,916

• Annual cost of living: $41,579
• Emergency fund for 3 months: $10,395
• Emergency fund for 6 months: $20,789
• Emergency fund for 12 months: $41,579

• Annual cost of living: $49,462
• Emergency fund for 3 months: $12,365
• Emergency fund for 6 months: $24,731
• Emergency fund for 12 months: $49,462

• Annual cost of living: $41,219
• Emergency fund for 3 months: $10,305
• Emergency fund for 6 months: $20,610
• Emergency fund for 12 months: $41,219

• Annual cost of living: $42,993
• Emergency fund for 3 months: $10,748
• Emergency fund for 6 months: $21,496
• Emergency fund for 12 months: $42,993 

• Annual cost of living: $43,844
• Emergency fund for 3 months: $10,961
• Emergency fund for 6 months: $21,922
• Emergency fund for 12 months: $43,844

• Annual cost of living: $40,788
• Emergency fund for 3 months: $10,197
• Emergency fund for 6 months: $20,394
• Emergency fund for 12 months: $40,788  

• Annual cost of living: $45,859
• Emergency fund for 3 months: $11,465
• Emergency fund for 6 months: $22,929
• Emergency fund for 12 months: $45,859

• Annual cost of living: $47,618
• Emergency fund for 3 months: $11,905
• Emergency fund for 6 months: $23,809
• Emergency fund for 9 months: $47,618

Methodology: For this study, GOBankingRates analyzed each state to find the amount needed for an emergency fund. 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.