Issue #41: Break glass in case of (money) emergency
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Hi y’all —
OK, sold. But I’m still confused about the math here. Recommendations range from three months of expenses to six months of expenses to half my salary — and that’s a BIG range for someone like me. What gives?
(FWIW, the Bureau of Labor Statistics says the average duration of unemployment right now is just over 17 weeks, or about four and a half months.)
THE BOTTOM LINE
(but please don't tell me you scrolled past all of my hard work)
My emergency fund should contain between three and six months of nondiscretionary spending. I should put it in a separate account where my money can work for me and only touch it if I feel my position is truly dire.
via GIPHY
RECEIPT OF THE WEEK
check out this crazy celebrity purchase
via Getty Author J.K. Rowling recently bought her childhood home in England, paying about $500,000 for the cottage she lived in from age 9 to 18. The house is said to have inspired some key elements in the Harry Potter series — for example, it has a cupboard under the stairs. There’s also graffiti in one of the bedrooms where a young Rowling wrote a message on the wall. How very Chamber of Secrets of her.
INTERNET GOLD
five things I'm loving online right now
401(K)9 CONTRIBUTION
send me cute pictures of your pets, please
CREDIT: CHRISTINE A. This is Baby Duke, a pup who lives in California. His emergency fund is mostly bones, but we’ll let it slide. I’m running low on 401(k)9 and 401(k)itty contributions. I demand you send more pet pics ASAP! (Please.)
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