How Much Do You Need In Your Emergency Fund?

How Much Do You Need In Your Emergency Fund? In this episode of Ask The Hammer, Jeffrey Levine, of Buckingham Wealth Partners, discusses how to determine if your emergency fund is sufficient and whether it is okay to count a HELOC towards your emergency fund. Levine recommends that you have at least three to 6 months worth of expenses saved in your emergency fund, but that the amount you need will vary depending on your individual circumstances. For example, if you have a stable income, you may be able to get by with a smaller emergency fund. However, if your income is more variable or you have a job that is sensitive to economic downturns, you may need a larger emergency fund. Levine also advises against counting a HELOC towards your emergency fund, as it is a revolving line of credit that the bank could call at any time. Watch more episodes of Ask The Hammer at this link: https://www.finstream.tv/videos/ask-the-hammer/