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An emergency fund is the backbone of any strong personal financial plan. Learn why you need emergency savings, where to put the money, and how much you need.
DEFINITION of 'Emergency Fund' An account that is used to set aside funds to be used in an emergency, such as the loss of a job, an illness or a major expense.
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The usual rule of thumb is 3 to 6 months' income. Of course that's silly--the size of your emergency fund needs to be based on your spending, not your income.
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Everyone should set aside a little extra cash in case of a job loss, medical expense, or other emergency -- learn how to start your emergency fund today.
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Do you have an emergency fund to cover 6 month's worth of expenses? Find out how to start and build up your emergency fund - including where to invest.
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Here are five interesting and different ways to build an emergency fund. Our topic for today is emergency funds: Can you be conservative with emergency funds?