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Detailed explanation-1: -While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months’ worth of expenses.

Detailed explanation-2: -Most experts believe you should have enough money in your emergency fund to cover at least 3 to 6 months’ worth of living expenses. Start by estimating your costs for critical expenses, such as: Housing. Food.

Detailed explanation-3: -As a general rule of thumb, many financial experts recommend setting aside 3-6 months’ worth of living expenses. So if you generally spend $2, 000 per month on rent, utilities, food, gas, healthcare, and other necessities, you should try to save between $6, 000 and $12, 000.

Detailed explanation-4: -The rule of thumb is that individuals should have enough in an emergency fund to cover three to six months of living expenses. Add up essential living expenses for one month and multiply that amount by either three or six (this will depend on how much you’re most comfortable having in case of emergency).

Detailed explanation-5: -Online savings account or money market deposit account These accounts may have different names, but they’re both well-suited for your emergency fund. In addition to insurance coverage from the FDIC or National Credit Union Association, these accounts offer the most competitive interest rates on savings products.