Emergency fund is required to anticipate when that will be pioneered efforts fail. However, this emergency fund is not mandatory because not everyone can provide it. Then, how many reserve fund to be prepared? There is no definite limit, depending on the condition of each person.
The amount of emergency funds, typically ranging from 6 to 12 times the cost of living per month. To get a backup, you can save. And to save money, there is no excuse for not saving. This is where the need to suppress the consequences of your spending, so that fundraising can be run properly.
How do you prepare a emergency fund?
There are three ways as follows:
1. Pressing Expenditure
Make a monthly expenditure planning needs and evaluate what can be reduced, postponed or even eliminated, since spending tesebut not urgent.
2. Increase Revenue
Doing business casual or a side job. If you are an employee, you can work overtime.
3. Combine the Two.
You can do both to accelerate the collection of your fund.
Good luck :).
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