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Why You Need An Emergency Fund

January 12, 2021 by Bautis Financial

Here's what an emergency fund is, and what it should consist of depending on your financial situation.

How much money should you set aside for emergencies?

  • Everyone should have a rainy day fund, both for personal expenses and business expenses.
  • For unexpected bills, you should have a couple hundred dollars set aside.
  • For unexpected life-changing events it’s best to have between 3-6 months of monthly expenses saved.

Having a rainy day fund has the added benefit of reducing anxiety around your finances. Need help creating an anxiety-free financial plan? Schedule a complimentary consultation with our advisors.

Category: Budgeting/Saving, Personal Finance, VideosTag: emergency savings, Personal Finance, Personal Finance Tips, rainy day fund, Saving Tips, savings
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