Emergency Funds: Emergencies Happen When You Least Expect It
Family Balance Sheet
FEBRUARY 22, 2011
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. 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.
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