Personal finance
Emergency fund
Savings kept in easy-access cash to cover unexpected costs or a gap in income, often three to six months of essential spending.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
With an emergency fund, a redundancy is a worry, not a crisis.
Why it matters to you.
For contractors and anyone at a startup, it's what lets you walk away from a bad situation.
Related terms.
Videos.
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