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How to Build your Emergency Fund

Family Balance Sheet

If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. This amount is also highly recommended by other personal finance experts.

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How to Build your Emergency Fund

Family Balance Sheet

In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. Once your finances are in order, your goal should be to increase that number to an amount that you feel is sufficient. The post How to Build your Emergency Fund appeared first on Family Balance Sheet.

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

We spent the next couple of years building our savings back up, but I am now thinking that it needs to be increased. Three to six months living expenses used to be what the personal finance experts recommended, but in today's environment, maybe six months to a year is more prudent. How Much Do You Need in an Emergency Fund? Six months?