Posts Tagged ‘savings account online’
How much you have in your emergency fund?
For many it is a savings account, money saved for other under the bed, or the money in the safe, but we all know that this money is what should have for any emergency that arises. It is very important to have an emergency fund to help you overcome difficult times, say financial or emotional. The job loss, reduction in salary, coup (if you work in government) and other things can cause a financial imbalance in your life that could take months if not years to recover. If you have an emergency fund, you should start today to do so, and if you have, take these tips to ensure you have enough.
First of all I want to start by putting more emphasis on how vital it is to save your life. I’m not saying you save everything you earn, but you do it a priority. Set a goal of a certain amount of money you want to save each payroll, and make sure that this is the first thing to do. Visit the post on how to save to your plan.
You have to save between 3 and 6 months of your expenses.
You have to make a budget and save at least 3 months of expenses that will occur monthly. If your expenses are $ 1,500 per month, you should have a fund of at least $ 4,500. The more you have saved, the more time you have to put everything in order.
Takes into account family emergencies
If you know that you are planning a family emergency (eg a very sick family member), you should save money to deal with the paperwork of a hospital or a funeral in the worst case, but unfortunately the only thing we are sure in life is that we are all for the same site.
How flexible you are with the work.
If your work area requires more than 6 months to get a position and you lose your job, maybe you should take into account the savings of more than 6 months of expenses. If your work is seasonal and lost this season (including tourism), you may need sufficient funds to get to the next and reset. You may also be more flexible and look for something else in the meantime, but this is up to you.
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