Focus on Finance: Establishing an Emergency Fund
Planning ahead and creating an emergency fund is one way to give yourself a buffer from financial burdens and peace of mind by expecting the unexpected. There are important links between money and mental health . U nderstanding how they affect each other can help you achieve better financial and mental health. What: An emergency fund is designed to protect you against unexpected expenses. These could be a serious illness or a very big home repair. To prepare for these types of events, it is important to save between 3-6 months’ worth of expenses depending on your situation. Use this calculator for a guide. Who: Everyone needs an emergency fund! Currently stable finances can become unstable quickly. Natural disasters, a shifting economy, a split from a partner would all be times when an emergency fund could be used. An emergency fund is invaluable for increasing the number of options available during bad times....








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