How Much Should You Have in Your Emergency Fund?
It’s pretty common advice to suggest that everyone have an emergency fund — some savings stashed away as a financial parachute in the event that something costly derails your budget. But how much is enough? Savings recommendations are often based on how much it would cost you to live for a period of time without income. A general rule of thumb is three to six months’ of expenses. However, that may not always be enough. Take this quiz to get an idea of the minimum amount you should have in your emergency fund.