Emergency Funds: Emergencies Happen When You Least Expect It
Family Balance Sheet
FEBRUARY 22, 2011
In 2007, we used about 6 months worth of living expenses and our savings came very close to drying up, so saving one year's worth of living expenses might be more wise for us. An emergency fund is really a necessity account. Your wants and dreams are secondary and need to be saved for separately. It is for emergencies.
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