Acquire Emergency Cash — Budgeting 101 Tutorial
SAVE at least 3-6 months of expenses to acquire emergency cash from your own funds. Emergency funds should be in a readily available account such as passbook savings, money market, or income mutual fund. Start with any amount of money possible, it doesn’t matter how much, just start. You must acquire emergency cash.
After starting an emergency fund, add to it on a regular basis. This means; bi-weekly, monthly, or quarterly, it doesn’t matter what the frequency is, just as long as you add to it regularly. Before you know it, you will have a well-funded emergency account.