Infographic: How To Build Your Emergency Fund
AK Equity Group
Building up your emergency fund may seem like a daunting task, but it’s well worth the effort. Today we share tips and strategies to help you get started and build gradually in a way that makes sense with your financial goals.
An emergency fund is a portion of money set aside to cover unforeseen short-term expenses, such as job loss or a flooded basement. It is typically an amount equal to 3-8 months of your daily living expenses, and would allow you to maintain your lifestyle through a time of fluctuation in your finances.
How to build your emergency fund
If you currently don’t have a separate emergency fund, you can start building one today, using the following strategies.