💨 Abstract

An emergency fund is essential for financial security in case of unexpected expenses or crises. Many Americans aren't prepared for emergencies, with 42% having no emergency fund and 40% unable to cover a $1,000 expense. Experts recommend saving three to six months' expenses in an emergency fund, considering factors like employment, income consistency, and medical issues when determining the amount to save.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖