How to Prepare and Build Big, Healthy Emergency Fund [Finance Secrets]
Some of us are might having difficulties in starting to build emergency fund. Sometimes when we want to have an emergency fund, we tend to spend the money on something else. But when something happens, we regret that we don’t prepare and build an emergency fund.
There are plans from some financial advisors like Suzie Orman, who have the 8-months emergency fund. It is achievable (difficult but achievable as long as you are focused on it), but at the same time it’s kind of intimidating for some people.
It seems that, in this economy, a lot of people are thinking seriously about their emergency funds. Frankly, I think that’s a very good thing – emergency funds are a key part of a healthy personal finance situation. The biggest problem, though, is that it’s intimidating – eight months? That’s a lot of savings.
But hey, it’s not that hard… So here’s the guide on how to prepare and build a big and healthy emergency fund:
