Standards
Concepts
Emergency funds: The basics
Description
Are you prepared for unexpected expenses?
You’ve heard it time and again: It’s important to set aside three to six months’ expenses for an emergency fund. Easier said than done, right? If you have a lot of debt, live on a fixed income or have unpredictable expenses, putting aside that much money can seem nearly impossible. The good news is you don’t have to do it all at once — even a little money in savings can go a long way.