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Building Emergency Fund

In the case of an unexpected life event or emergency (such as loss of a job), which can put a financial setback on one’s life, it is important to design and work towards building an emergency fund in a separate account that will cover for those unexpected expenses. Ideally, one should put away 3 to 6 months of total expenses.

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.