Financial planners generally suggest that you should aim to save six months' worth of expenses for emergencies. And while this is a good goal, in this video, Certified Financial Planner® Matt Frankel discusses why there's a lot more to consider, and why building even a small emergency fund can be very important.
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Your Emergency Fund: How Much Do You Really Need?
Most financial planners suggest a six-month cushion, but there's a lot more to the story.
About the Author
Matt Frankel, CFP, is a contributing Motley Fool Personal Finance Expert and Stock Market Analyst covering financial and real estate sectors, plus personal finance. Prior to The Motley Fool, Matt was a high school and collegiate mathematics instructor. He holds a B.S. in Physics from University of South Carolina, an M.S. in Mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. Fun fact: Matt won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act.
The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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