Emergency funds should always be established before you begin having a conversation on investing.
Depending on your cash and spending needs – you may want to have more emergency funds than the average person.
Having 3 – 6 months of expenses saved in an emergency fund is a great starting point.
If you are a heavier spend, are uncomfortable on the budget you created, or you have large special expenses coming up – then you should consider having more emergency funds on hand.
LARGE SPECIAL EXPENSES MAY INCLUDE, BUT ARE NOT LIMITED TO:
- Real Estate 🏡
- Vehicles 🚗
- Education 🎓
- Travel ✈️
- Exotic Animals… 🐯
Everyone has their own “exotic” tastes.
If you plan well enough, you can plan for whatever your mind desires 🧠