Financial advisers recommend that people keep up to six monthsâ worth of emergency savings in case of an unexpected medical bill or job loss. However new numbers based on more than 70,000 lower-income households, found the magic number for emergency savings accounts could be as low as $2,467.
Basically it came down to your probability of experiencing hardship in the next six months, If you were able at a low income to manage to save that much a few more dollars didn't lower your odds or increase your protection that very much. Obviously, if you are used to living with higher expenses you would be wise to achieve the old rule but if you are not and you can get to the magic number, well done!
1 of 4 2 of 4 3 of 4 4 of 4