Thanks a lot for your replies, will definitely keep that in mind. Just started with my emergency fund
Having an emergency fund of at least 5-9 months in good for the hard times. The emergency fund helps in financial instability. But people use these funds in normal times also, one should be firm and use these funds in case of emergency only. Even business plans should include emergency fund as a part else the business will have to opt for factoring invoices to face the financial crisis. An emergency funds of 5-9mmonths can help in hard times.
I've been awful with my EF the last few years-every time I build it up, I invest in something else! My goal this year is to get 6 months' worth set aside, -THEN- I want to aim for two years' worth set up in a high yield savings account.
