Money Matters – Step 4: Fill Up Your Emergency Fund

Now that you’ve got your bills paid off, you should fill up your emergency fund so that you have 3 – 6 months worth of expenses set aside. This is actually pretty easy to do if you have no debts! A fully funded emergency fund can be a life saver if something unexpected happens.

6 ways to build a fund for any financial emergency | Policygenius

How much is enough? That’s a question you’re going to have to sit down and figure out, because everyone’s situation is different. $5000? $10000? Whatever amount that makes you feel comfortable. And since you’re debt free, your emergency fund will actually last longer than if you still had a pile of debts hanging over your head.

Now let’s start putting money away for your future – Money Matters – Step 5: Maximize Retirement Investing.

About hemibill

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1 Response to Money Matters – Step 4: Fill Up Your Emergency Fund

  1. Pingback: Money Matters – Step 3: The Debt Snowball | Hemibill's Blog

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