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# Money found by AdviceCafé

# Money found basics

**Money found** is calculated using your **income**, **spendable** and **committed expenses**, which is on the **Home** page of your **AdviceCafé** account. 

* **Money found = income - spendable - committed expenses**

Every dollar of your **money found** should have a job, which will help you avoid overspending and encourage you to succeed with your **spendable**. 

* [Learn more about spendable cash flow](https://advicecafe.crisp.help/en-ca/article/recommended-spendable-by-advicecafe-1t5dlah/)

## Putting your money found to work
How you allocate your money found depends on how much was found by **AdviceCafé**. Here are some general guidelines on how to use your **money found**:

### Less than $300
Divide money found between a **short-term goal** and **emergency savings**.

### Between $300-$600
Allocate a minimum of $150 towards both **short-term goals** and **emergency savings**, and then put the rest toward **future savings**.

### Greater than $600
Allocate a minimum of $200 towards both **short-term goals** and **emergency savings**, and then divide the rest between **future savings** and **debt repayment**.

### Short-term goals 🌴
**Short-term goals** are personal goals that motivate you to stay within your spendable, such as a vacation ✈️, season tickets ⚽, or a home renovation 🛠️. When selecting a short-term goal, it should be:
* achievable within 6-18 months;
* **not** a financial goal, i.e. paying down debt or saving for retirement; and
* **something you really want!**

### Emergency savings ☂️
**Emergency savings** should be kept in a separate account. We recommend your emergency savings be **4x your monthly committed expenses and spendable**. 

**Example:**
* Committed expenses - $1,000/mo
* Recommended spendable - $400/mo
* **Emergency savings = $1,400 x 4 = $5,600**

### Future savings ⏳
If your **money found** is greater than $300, you can start saving for your future. Regardless of your age, your **first long-term savings goal should be saving for retirement**.

### Debt repayment 💸
If your **money found** is greater than $600, you can direct funds toward **short-term goals**, **emergency savings**, **future savings**, and **debt repayment**. Paying down your debt will eventually lower your committed expenses, allowing you to increase your weekly spendable, or put more money towards your other goals.