How Big Is Your Emergency Fund?
The topic of emergency funds seems harmless enough. But in fact, there is quite a lot of controversy around them. Experts don’t always agree on how large the emergency fund should be, or even where the money should be kept. We want to know what your emergency fund looks like.
If you have a reserve fund, how much did you save and how did you choose that number? You don’t need to give the exact amount – it might be better to tell us how many months you have saved on living expenses. Some experts say there should be three, others nine, and some even say one month is fine.
We also want to know where you are saving this money. In a traditional liquid savings account? Is it a CD? Is part of it invested in the stock market?
So tell us: how big is your emergency fund and why?