Life is unpredictable. An emergency fund turns a potential financial disaster into a mere inconvenience. But how much is enough?
The Standard Rule
Most experts recommend saving 3–6 months of essential living expenses. This covers your needs (rent, food, utilities) if you lose your job.
💡 Where to keep it?
Keep your emergency fund in a High-Yield Savings Account (HYSA). It's accessible but separate from your checking account, so you aren't tempted to spend it.
Who Needs More?
Consider saving 9–12 months if:
- You are self-employed or have variable income.
- You work in a high-risk industry.
- You have dependents or health issues.
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