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.
A budget will help track your spending and ensure you’re putting enough money towards monthly savings.
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.
If you can find extra money in your budget, you can put that towards your emergency fund and speed up the savings process.
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.