How Big Should My Emergency Fund Be? | The Financial Mirror

If there is one law that all of us have experienced at some point it is Murphy’s Law. In 1949, Air Force Captain, Edward Murphy brought this law into existence when he stated “whatever can go wrong, will go wrong”. While he was talking about an experiment the Air Force was doing, this totally applies to our finances. When everything is going great, it just doesn’t seem like anything can hold us back from hitting all of our financial goals. Then all of a sudden, BOOM!!, everything goes wrong and we have a major setback. The great part is, that with a properly funded emergency fund, you can easily weather this financial setback and start working toward your goals again. The question remains though, how much money is in a properly funded emergency fund? Well, that’s what we discuss today, at the end of this episode I want you to know you will walk away knowing exactly how much you need to work toward saving to be ready for any financial emergency situation you face.

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