Ran across this article that offers some data-backed research on how much to keep in your emergency fund.
The article focuses on lower income respondents, but the guidance is also relevant for those just getting started and looking for benchmarks. This isn't an argument against having more in your e-fund when able, but it offers some more concrete guidance that might be a useful alternative to the common advice here of saving $1,000 and then moving on to high interest debt.
tl;dr According to the article, having $2,500 in your emergency fund will cover most common emergencies and saving more than that results in diminishing returns.
Submitted October 16, 2019 at 08:11PM by lizref https://ift.tt/2oRqsCi
