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.
