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Should I invest my emergency fund? | Summer Series

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Jan 9, 2023
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ADVICE

Emergency Fund Purpose

  • Start by understanding the purpose of an emergency fund: It's easily accessible money for unexpected expenses.
  • This prevents reliance on credit cards or debt during job loss or other emergencies.
INSIGHT

Emergency Fund Importance

  • Many Australians struggle with unexpected expenses, highlighting the importance of an emergency fund.
  • Surveys show less than half could cover a $1,000 emergency, and one-third couldn't cover $500.
ADVICE

Emergency Fund Amount

  • Aim for 3-6 months of expenses in your emergency fund.
  • Those with inconsistent income should have a larger buffer.
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