That will vary depending on your circumstances, but a good rule of thumb is to have three to six months’ worth of living expenses saved.
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A budget will help track your spending and ensure you’re putting enough money towards monthly savings.
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Many banks offer the option to set up automatic transfers from your checking account to your savings account. Pay yourself first, so you don’t even miss it.
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If you can find extra money in your budget, you can put that towards your emergency fund and speed up the savings process.
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In addition to saving money, investing in yourself is essential. One of the best ways to do this is to focus on building your income.
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