Have enough cash reserves for fixed expenses during unexpected life events.

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Have enough cash reserves for fixed expenses during unexpected life events.

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Emergency Fund Frequently Asked Questions:

What is an emergency fund?

Emergency funds are an extra source of money that is easily accessible in a time of need. They help you cover your essential expenses and provide you with financial protection against the unexpected.

How much should I have in my fund?

The common standard for emergency funds is 6 months, though this number depends substantially on your personal financial situation.

Where should I keep my emergency fund?

Emergency funds are all about quick and easy access to cash when you need it. Savings accounts, CDs, even Roth IRAs are great for storing your emergency funds.

When should I use my emergency fund?

Emergency funds exist to be used when the unexpected happens: the loss of a job, unexpected medical expenses, house and car repairs.

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