Saving three-to-six months worth of expenses in an emergency fund is longstanding financial advice gospel.
But it can seem impossible especially if youre struggling to cover necessities.
That $2,467 figure isnt a magical number that works for all low-income households, though.
The circumstances or unique needs of your household may warrant more savings.
The report mentions families led by single mothers and households without health insurance should save an additional $1,000.
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Our estimates should not be interpreted as an optimal savings level, the report states.
Did you know?
Or consider picking up aside hustleto have more money to sock away.
you’re free to evenmake money at home.
Nicole Dow is a senior writer at The Penny Hoarder.
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