An Emergency Fund is an account used to set aside funds needed in the event of a personal financial dilemma, such as the loss of a job, a debilitating illness or a major expense. The amount of money needed for this fund should be at least your monthly expenses for 3-6 months.This is a suggested amount to save for emergencies and may seem like a lot to be put aside. Rather then looking at 6 months of spending just start saving for today. Above all anything set aside is certainly better than nothing at all.
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