I recently published a post that talks about the first thing to do with your paycheck. In that post I talk about my father being laid off and still being able to support a family.

My father was out of work for about 11 months.

This leads me to ask, how long will your emergency fund last you?

Most articles I find on building an emergency fund suggest you should have 3- 6 months worth. But what happens when you can’t find work for 11 months?

Life has a way of throwing curve balls at you and I believe it is always better to be over-prepared.

An emergency fund can cover in the case of:

  • Job loss
  • Unexpected medical expenses
  • Car repair

Just to name a few.

The purpose of this post is to challenge you to build an emergency fund that will last at least 12 months.

A few ways to quickly build a lasting emergency fund are:

  • Live below your means for a while while saving money
  • Find a side hustle that generates extra cash flow
  • If you have the luxury of time, getting a second job may help
  • Ask for a raise, then save the difference

Having cash set aside for an emergency is a step closer to financial freedom and helps you live stress free.

These are just some thoughts on emergency funds. Let me know what you think in the comments below.

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