Sizing Your Emergency Fund: How Big Do You Need it to Be?

May 7th, 2012 - By crakoczy
"Mother and Child"

http://www.thisisyourconscience.com

Are you the sole breadwinner?

If you are the only person bringing income into the house, a loss of your income would mean a total loss of all money used to pay bills. This means you need to have a larger emergency fund than someone who has a partner that is also earning.  Most financial experts recommend 3-6 months of living expenses as a starting point for an emergency fund, but you may wish to save up 6 months to a year of expenses if you are the only income earner.

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