Before you invest your money, it's super important to make sure you have enough funds to get through tough circumstances when you need cash the most. This is where an emergency fund will help you.
Using my emergency fund calculator below, you can check how much cash you need to save to survive sudden loss of job, financial loss, accidents and similar unforeseen situations. Recommended reading – AYF – Part 1.
Includes mortgage or rent payments, property taxes, home or renter’s insurance, HOA fees, and household repairs
Includes water, garbage/recycling, gas, electric, phone, internet, and cable
Includes gas, car payments, car insurance, public transit, and ride shares
Includes groceries, take-out, and restaurants
Includes credit cards, loans and other mortgages
Includes health insurance, doctor and dental bills
Includes school/college fee and other education expenses
Includes an unexpected travel expenses
Includes an unexpected event, medical injury, loss and harm
Includes personal care, child care, taxes, other insurances, and leisure
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Aayush understands that naive can’t handle money – from a personal experience. He started this blog as an initiative to teach millennials and young entrepreneurs how to make, manage, and invest money towards a better future.