How much money should you set aside for emergencies?
Everyone should have a rainy day fund both for your personal expenses or 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? Contact us. We are here to help.