A Quick Guide to Your Emergency Fund

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A Quick Guide to Your Emergency Fund

By Andrew Binetter

A Quick Guide to Your Emergency Fund

Throughout our lives, we save money for future expenses such as those expected in retirement. Life has a tendency to throw curveballs into even the most solid financial plans, and an emergency fund is critical to preserve financial security. In simple terms, an emergency fund is an amount of money set aside for life’s unexpected expenses, such as the loss of a job, an emergency medical procedure, vehicle or home repairs, and many more possibilities. Financial experts suggest that an emergency fund should contain enough money to replace at least three months of ordinary income. Some experts recommend an even larger financial cushion, setting aside six months or more of income for those unforeseen expenses. It is crucial to keep this fund liquid, placing it in easy-to-access accounts for use whenever it may be needed. Learn more https://www.pinterest.com/pin/368028600797040914/

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