Menu Close

In today’s B’s Finance Minute, let’s talk about Building an Emergency fund. This is important because in the event of a family emergency due to illness, job loss, or any other tragedy, you can survive for 3 months.

Your emergency fund should be equal to 3x your monthly survival number. Therefore the first step Is to identify how much money your family needs in a month to pay for your basic expenses for food, housing, schooling, car, gas, utilities, insurance and all other necessities. 

Second, multiply this monthly amount by 3 because you want to make sure you can survive For 3 months if you or your spouse cannot work. Third step, keep this In a savings account.  Don’t put this in stocks or high risk mutual funds because you want this to be safe and to be liquid.  Having an Emergency Fund is your duty and your responsibility.  This is B’s Finance Minute. My intention in this blog Is to create a positive lasting difference. Share this so you can too!

DISCLAIMER: The information in this post is solely advisory, and should not be substituted for legal, financial or tax advice. Any and all decisions and actions must be done through the advice and counsel of a qualified attorney, financial advisor and/or CPA. We cannot be held responsible for actions you may take without proper financial, legal or tax advice.

Karista Events & Workshops

We offer FREE educational events and workshops for First-time Home Buyers, Real Estate Investors, and a lot more!

What: FREE Real Estate Investing Workshop
When: TBA
Time: 6:30PM to 8:30 PM Pacific Time
Click Here to Register

What: FREE First-time Homebuyer Workshop
When: November 17th, 2022 (Thursday)
Time: 6:30 PM to 8:30 PM Pacific Time
Click Here to Register

Scroll to Top