Build a robust emergency fund from "summary" of Quit Like a Millionaire by Kristy Shen,Bryce Leung
Having a robust emergency fund is crucial for financial security. This fund acts as a safety net in case of unexpected events such as job loss, medical emergencies, or natural disasters. Without a sufficient emergency fund, you may find yourself in a precarious situation, relying on high-interest credit cards or loans to cover expenses. To build a robust emergency fund, you should aim to save at least three to six months' worth of living expenses. This amount will vary depending on your individual circumstances, such as job stability and monthly expenses. It's important to calculate your living expenses accurately to determine the appropriate fund size for your needs. Start by setting a specific savings goal and creating a budget to track your expenses. Cut unnecessary expenses and redirect that money towards your emergency fund. Consider automating your sav...
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