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An emergency fund is a pool of money set aside to cover unexpected expenses. This could include things like car repairs, medical bills, or job loss. Having an emergency fund can help you avoid debt and stress during difficult times.
The amount of money you need in your emergency fund will vary depending on your individual circumstances. However, a good rule of thumb is to have enough money to cover 3-6 months of living expenses.
If you're not sure how much money you need in your emergency fund, or if you're struggling to save, we can help. Contact us today to learn more about our financial planning services.