Inflation has made building up emergency savings even harder — here's a good baseline if you can't meet three to six months of living expenses.
emergency savings should cover three to six months of living expenses. But after years of high inflation, this goal might seem far from attainable for many Americans.
"Emergency savings demands a personalized approach," he says. "While the conventional wisdom endorses three to six months of living expenses, I persistently advocate that any amount is superior to none." "An entire month of expenses serves as a buffer against immediate shocks, affording space to navigate crises without plunging into debt," he says. "Regardless of their financial situation, I urge everyone to prioritize this humble yet essential goal.
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