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Simple but I wish I had the funds for a six month emergency fund. Six months of what? Rent money, food money, any money? That one needs a little clarification.
Yes, six months is said to be everything that you may need in those six months. This fund would be for in case a job is lost or someone falls ill and loses their income. I talk a bit more about this in the blog post. Just click the image noting the emergency fund to go to the post. 🙂 I also have posts showing how to start building this fund. 🙂
I have only 3 months covered: I am sure in case I loose my job, in 3 months I will find another or I will re-qualify.
In plus, I calculated that: these 3 months without a job be a lower budget than regular and I will cut my spendings on services (like no more babysitting for my child, out lunches, cleaning lady, transport to job, no new clothes but more time for coupons e etc etc). Of course everything is possible with …knowing my budget.
Good to see you have a plan! If I had three month’s worth of funds saved, I would be stressing it from day one but with six months saved, I’d have about three months to be sure to get everything together before the reality stress sets in. Sounds like you would be better able than me to keep your cool if you got into a rough patch.