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.
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 stock market analyst and personal finance expert covering financial stocks, REITs, SPACs, and personal finance. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, The National Desk, and other TV networks and publications for his financial, stock market, and investing expertise.