Originally posted on Money with Merne’s Facebook Page on December 6, 2016:
Do you have a rainy day fund? Financial experts suggest having an 8-9 month emergency fund which means 8-9x one month’s necessary expenses (mortgage/rent, food, minimum payments on loans, NOT savings or extravagant entertainment you can live without). It will probably seem like a daunting number but it’s a worthy goal. Imagine the security and peace of mind you’ll feel when you’re prepared for the unexpected! Celebrate the milestones along the way – accruing one month’s worth, two, three and so on. You can do it!!