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How to Create an Emergency Fund

Most financial experts advise that you set aside what they call an emergency fund or a rainy day fund for when times get tough. They suggest that you save up as much as six months’ worth of expenses in case you lose your job or are otherwise unable to bring in any money. Six months is a lot though, and many people look at that number and just don’t even know where to start. Well, we’re here to point you in the right direction. Creating an Emergency Fund The first step is actually to decide whether you should be working on saving up an emergency fund at all, or if there are other more pressing matters that need to be dealt with. Namely, if you have a lot of debt, it may make more sense to pay that off before starting a savings. There really is no benefit to saving…
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