Imagine the top savings goal for most people. Dream home? Nope. Relaxing retirement? Guess again. It’s that good ol’ emergency fund. An impressive 44% are hustling to build this cushion rather than diving deep into other financial ventures.
Why the concern? It’s like having a financial bodyguard. From those unexpected car repairs to medical hiccups, this fund steps up.
Step 1: Size matters! But how hefty should it be? While experts like Robert R. Johnson suggest about six months of expenses, tweak it to your tunes.
Step 2: Get your budget game on! See where the moolah flows and redirect the stream towards the emergency fund. Need a pro tip? JB Beckett says, trim the excess, and boost the buffer.
Curious about the steps to securing your emergency fund? [Jump in to find out.]
