Plan For 3 to 6 Months of Savings
Planning for 3 to 6 months worth of savings is imperative for everyone, no matter where you are on the ‘saving scale’ If you’ve just started or if you’ve already got some money tucked away, you have to consider setting a minimum goal.
Remember, you need enough money for not just food, rent, and utilities. You might have mortgage payments to worry about, or other big expenses that cannot be postponed.
You must also consider the fact that it’ll take a while to build up all the extra cash. Don’t be discouraged if your projections don’t indicate you’ll be done saving in just a few months!