Q. How much should I save for emergency funds?
A. There is no set answer to this question, as you might hear the rule of thumb is anywhere from 3 to 6 months' regular living expenses.
If you want to get a more detailed view about the emergency savings, for example, what it to cover (mortgage or rent, health insurance premium, car expense, etc.) and what are your sources (partner income, current savings, etc.), you can run an online tool from hellowallet:
HelloWallet.com/emergencysavings
After answering a bunch of questions, it will give you a minor and a major emergency saving amount.
In our next blog post, we will discuss where to put the emergency funds.
A. There is no set answer to this question, as you might hear the rule of thumb is anywhere from 3 to 6 months' regular living expenses.
If you want to get a more detailed view about the emergency savings, for example, what it to cover (mortgage or rent, health insurance premium, car expense, etc.) and what are your sources (partner income, current savings, etc.), you can run an online tool from hellowallet:
HelloWallet.com/emergencysavings
After answering a bunch of questions, it will give you a minor and a major emergency saving amount.
In our next blog post, we will discuss where to put the emergency funds.
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