Does the emergency fund rule of thumb still come in to play, maybe now more than ever?
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Does the emergency fund rule of thumb still come in to play, maybe now more than ever?

1 Expert Answer

Wendy Habegger, PhD

Lecturer in the James M. Hull College of Business,  Augusta University

Yes, but I don't go by the standard rule of thumb for emergency savings – having three to six months of expenses saved. I teach students their goal should be to have 12 months of expenses saved. The three to six months rule is obsolete.

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