The Hows and Whys of Creating an Emergency Savings Account

by Michael Benifez Having an emergency fund is not a luxury - it is a necessity. Most personal finance experts recommend that people have emergency savings to cover at least between three and six months’ worth of regular household expenses. Even if you think you don’t need such an account, it’s true that eventually you will. You can’t predict if you’re going to become disabled, have a devastating house fire, or lose your job. Let’s look at how much savings you need, and how you can get starte