An emergency fund is money that you put into an account in case of a rainy day.
Actors – this is not money you use from one job to the next – it’s money kept for true emergencies.
I like setting up an emergency fund in a money market account (that’s liquid – aka can sell at any time) that doesn’t show up on my online banking, so it’s out of sight and I’m less tempted to spend it.
Experts recommend saving 6-12 months of expenses in your Emergency Fund.
**Disclaimer: I (Michelle Dyer) am not a financial advisor, please contact one. The views in this video are strictly my own and do not reflect my employer.**