How You Should Really Spend Your Holiday Bonus
Establish an emergency fund
The more we put away for those rainy days and unexpected life events, the softer the blow will be. Another tip that Shipley recommends is to establish an emergency fund if you haven’t already done so. Even though times have been extremely hard for many of us, it’s still important that we put away for emergencies. So what’s the magic number? While you should always do what you can, Shipley advises us to save at least six months of living expenses (both necessities and other expenses) that you can easily access should the time come. Learn how to save for a financial emergency.