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The Emergency Fund: Insurance for your Financial Life

I don’t think any personal finance blog, advice column, or book is complete without a post on the emergency fund. Articles and advice can range dramatically, from $400 to 12-months of spending. It is amazing how many people in the US couldn’t cover an unexpected $400 expense.

It can be difficult to know what the “right” amount to have in an emergency fund is (or if you need one at all), but there are several factors that you should consider when setting your savings target. read more