Set up an emergency fund
Pick how many months you want covered and a pace to build it. Carlo sizes the target from your real expenses.
Open the More menu from the tray and tap Goals. The top row is your Emergency Fund; if it has not been set up yet, tap Set Up Emergency Fund.
Enter how many months of expenses you want to cover, and three is a common starting point. This is the part Carlo does differently from other goals: rather than asking you to invent a target, it multiplies your months by your actual monthly expenses. Then enter how much you have already set aside, if anything.
Choose how fast to build it, either Pick a completion date or Pick a monthly amount. Carlo shows you the other number as you go, so you can see the trade-off rather than guess at it. Then tap Set Up Emergency Fund.
What the target covers is worth being precise about, because it is deliberately not everything. It is your months multiplied by your rent, bills, and monthly spending categories added together. It leaves out Annual categories and anything you put toward savings and debt goals, because the point is to cover the recurring costs you would still face if your income stopped, not to replace your saving.
It also keeps itself current. Add or change a bill or a monthly spending category and the target follows automatically. Changes to Annual categories do not affect it.
If you do not see a Set Up button, the card will say "Build your budget" instead. The emergency fund unlocks once you have built your budget, since Carlo needs your monthly expenses to size the target. Tap Build my budget on the Budget screen first, and adding your bills makes the target match your real costs; the card tells you how many are included so far.
Once it is running, open it any time to see your balance, how many months you are funded for, your monthly plan, and your pace. Tap Add to Emergency Fund whenever you move money in, and use the Edit tab to change the months, the timeline, the monthly amount, or to correct the starting balance. If what you have saved meets or exceeds the target, it simply reads Fully funded and asks nothing more of you.
One extra option if it is well funded: Draw to Year Coin. Pick a year coin and an amount, and Carlo moves that much out of the fund and into the coin as extra allocation, making it available to spend in that category. It is reversible by logging a contribution back.