Unfortunately, bad things sometimes happen to good people. In fact, bankruptcy filers often site an “unforeseen” event as the cause of their financial demise.
In addition to long-term savings, financial experts agree that consumers should aim to have three to six months living expenses saved for emergencies. By learning to expect the unexpected, you can keep a minor financial setback from turning into a major financial crisis.
Use this helpful calculator to help you determine how much to set aside for emergencies.