Is emergency fund ever enough?

[Fidelia]

People always say that they are saving for emergency. But most of the times, emergency situations that are bigger to solve than the ideal emergency fund occurs.

The real use of emergency funds is to have something to start with when an emergency occurs.

 

[eLdavis]

Emergency funds is never enough, especially when unplanned expenses keeps popping up from time to time.

 

[Kross]

Emergency funds might not be enough but you must have what to fall back in times of emergency. It is terrible when nothing is available. That's a hopeless situation.

 

[Starmix]

With the prices of all sorts that we have this time the emergency fund is not sufficient not unless of there's health insurance of the person. It could suffice.

 

[Fidelia]

The emergency funds could be enough if you have been consistent with reserving it. After all, emergencies might only happen once in 3 years. Someone that has been faithful with emergency savings should have enough to pull through.

 

[Suba]

The amount of emergency fund for each person will of course be different, which means the money we reserve for emergencies, so whenever there is an emergency we can use the funds, even though it is still not enough, it will at least cover some of our needs, for singles it is at least 6 times the monthly expenses .

 

[Springtime]

The amount of emergency fund I have is enough for 12 months' expenses. If that is not enough, I still have some savings in my bank account.

 

[King Belieal]

That means you have been saving for emergency from a long time now. I think I that is the longest emergency savings I have heard anyone has.

The amount of emergency fund I have is enough for 12 months' expenses. If that is not enough, I still have some savings in my bank account.

 

[Stardom22]

It's my thinking that the emergency fund is never enough. I have never found it to be enough in most of my life.

 

[AruneBend]

it might not be much but at least it is something wild things happen every day so you must be prepered

 

[magnus2022]

Emergency fund can never be enough because emergency can not be estimated until it happened. While we don't pray for such, we will continue to add up our emergency fund.

 

[King Belieal]

Some emergencies can just happen and you are completely rattled financially even with sufficient emergency funds. That's why we need to cover all grounds to avoid such emergencies.

 

[Nomad]

You need 6-12 months of expenses and every time you use your emergency funds, you need to replenish immediately.

 

[Suba]

People always say that they are saving for emergency. But most of the times, emergency situations that are bigger to solve than the ideal emergency fund occurs.

The real use of emergency funds is to have something to start with when an emergency occurs.

Because we cannot predict bad events that will happen, in fact, emergency funds will never be sufficient, but at least we have money when we are in a pinch or encounter bad events that we never wanted.