My Chocolate Lab’s $4,300 Vet Bill: Why You Need An Emergency Fund
Typically, most people keep a reserve or stash of money set aside in case life throws an emergency or issue that requires financial means.
2 Reaons You Need an Emergency Fund:
1. Most adults have less than $1,000 in savings. 2. Most adults have less than $1,000 in savings.
How to Start an Emergency Fund:
1. Find out how much 6 months of fixed living expenses would cost you. 2. Open an online savings account 3. Deposit money from your checking into your emergency fund.
How much should you have in your emergency fund?
Regardless of the differing opinions, most experts will say to have a goal of having 6 months saved in your emergency fund.
Emergency Fund Calculator
If you don’t have a budget and you want to simply go with a rough estimate (I personally advise against winging it) then you can use an emergency fund calculator.
My Emergency Fund Take Away –
To start an emergency fund ASAP, make sure it is in a separate savings account (Ally has great rates), and be sure to keep all chocolate higher in the pantry if you own a dog!!!
Tap the link below TO Learn Why You Need An Emergency Fund
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