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The Beginner’s Guide to Getting a Handle on Your Finances

By Lindsey Lanquist

As for how much emergency savings you need on hand, experts like Marshay Clarke recommend, a licensed financial planning professional at Betterment, recommend storing up three to six months worth of expenses in a “rainy day fund” or in-case-of-emergency savings account. So if you currently spend $4,000 a month on housing, utilities, food, entertainment, and whatever else you’re regularly buying, you should aim to keep between $12,000 and $24,000 in your rainy day fund.

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This article originally published April 17th, 2018 on SELF