A few years ago, in the interest of learning to do a little more with my money, I asked my dad how he learned to budget. I wasn’t surprised when he quickly brought up emergency savings funds.
My
dad and I have similar money philosophies (risk-averse savers) and, as
such, I felt pretty confident about my emergency savings account. I’d
always heard that it was best to have six months of living expenses
saved in a liquid cash fund and I’ve done my best to stick to that
advice since I’ve been self-supporting. In practice, my emergency fund
probably covers three to six months of my living expenses at any time.
I’ve had to dip into it but when I do, I prioritise building it back up
again.
https://www.refinery29.com/en-gb/2021/10/10727596/how-much-money-do-i-need-to-quit-my-job?utm_source=pocket-newtab-intl-en
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