When everything's going well in your life, finances aren't usually a big problem. But inevitably, something unplanned happens that ends up costing you a bunch of money. That kind of "uh-oh" has spelled disaster for many people's promising new financial plans.
But if you're prepared for life's little surprises, that big problem turns into no problem at all. All you need to do is set up a cash cushion that will get you through the worst financial problems you're likely to face.
How much is enough?
The amount you squirrel away in safe, liquid investments is ultimately a personal decision (just like whether you should dye your hair, marry the boring investment banker or the sparkly English teacher, or choose butter over margarine). However, we certainly can provide some Foolish guidelines. How much you should set aside depends on the following factors:
But if you're prepared for life's little surprises, that big problem turns into no problem at all. All you need to do is set up a cash cushion that will get you through the worst financial problems you're likely to face.
How much is enough?
The amount you squirrel away in safe, liquid investments is ultimately a personal decision (just like whether you should dye your hair, marry the boring investment banker or the sparkly English teacher, or choose butter over margarine). However, we certainly can provide some Foolish guidelines. How much you should set aside depends on the following factors:
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