Advice from “Financial Gurus” Can Lead You the Wrong Way

How to Size Your “Perfect-Fit” Emergency Fund

Your “perfect fit” emergency fund size depends on your personal situation; one-size-fits-all doesn’t work

Chances are, you know you need an emergency fund to survive financial emergencies.

However, if you research how big this fund needs to be, you’ll run into contradictory advice, much of which is wrong or at least incomplete.

The following is how I figure out how much I need to set aside, which should help you figure out your “perfect fit” emergency fund size.

Examples of Bad or Inaccurate/Incomplete Advice from “Financial Gurus”

Dave Ramsey suggests your emergency fund be $1000 (at least until you’ve paid off all your debts, which isn’t necessarily a great idea).

Why Prepaying Your Home Mortgage Is Almost Always a Terrible Idea

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