Finance Quick Answers
Do you think an emergency fund is important? How much should I have in it?
Yes, this fund should contain enough money to cover your
expenses for 3 to 6 months if an emergency should occur
in your family. If you have an emergency fund, when
something unexpected does come up, you will not have to
run up a large debt or tie up funds that should be used
for something else. Being prepared for a financial
emergency can help get you through a tough time with
relative ease.
Source: Bozworth, Carole. Getting Started-Saving and Investing. Human Environmental Sciences Publication GH3520.
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Last update: Sunday, July 20, 2008
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