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emergency fund

Started by Loren H.
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J

Joselyn M.

Setup a direct deposit from your paycheck (ideally at least 5% of your take home pay) to go into an account separate from your regular checking/saving account that is specifically for emergencies. Determine reasons why you can use the money ahead of time (job loss, natural disaster, unexpected medical expense, unexpected tax bill, etc). Setup separate accounts with direct deposits into them for other expenses that you can anticipate coming up so you don’t have to dip into your emergency fund (car, vacation, gifts, etc.)

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