How to Start & Build an Emergency Savings Fund by the End of 2021
What happens if I lose my job? What happens if my in- laws want to move in with us? What to do when your child gets sick? If you lost your job tomorrow, how many bills would you be able to pay? These are all reasons why an emergency savings fund matters. This is looking at your basic necessities: rent, mortgage, transportation to take your kids to school, and a little bit more. How much money should be in emergency savings? This answer looks different for everyone, but it’ s great that you know you need an emergency fund. Gabby discusses the definition of an emergency fund, the best way to start an emergency fund, & how to make small changes after financial hardship.
- basic necessities: groceries, mortgage/ rent, gas, etc.
- Extra spending: restaurant,