RECESSION PROOFING YOUR FAMILY POST 4/6: COMPLETE YOUR EMERGENCY FUND

In good times and in bad, one financial must remains constant: the need for an emergency fund. Having a solid emergency fund helps turn emergencies into inconveniences. 
So how much money should you have in an emergency fund? 
• Still working to pay off debt: $1000
• Still working to pay off debt and earning less than $25k a year: $500 (this goes for teens too)
• Consumer debt free (all but the house): 3-6 months of expenses - what you need to cover your Four Walls
If you’re starting to hear whispers of possible job loss or cuts - debt free or not - stop paying any extra on debt, continue to pay minimums on all debt, and pack away as much as possible in your emergency fund to take care of your family. 
Once you have your fund, keep it safe and liquid. You need to be able to access it quickly and easily when/if it’s needed. 
Next we’ll talk about paying off debt, so you can have more funds at the ready... Stay tuned!