Emergency Fund

An emergency fund is money set aside for unexpected expenses

Major injury, sickness or anything that could leave you jobless

🤕

An emergency fund it the cost of living * X months

Most emergency funds cover 3-6 months of living

Having an emergency fund can help prevent going into debt

🤔

Emergency funds can be set aside in a savings account that you can easily withdraw from

🤑

How much should you have in an emergency fund? Typically a good emergency fund will be able to last you 3-6 months of your living expenses

🕰

So if it costs you $100 a month to live, then you should have at least $300-$600 in a savings account

🤯