http://www.moneycrashers.com/reduce-your-financial-risk-during-this-recession/?utm_source=rss&utm_medium=rss&utm_campaign=reduce-your-financial-risk-during-this-recession personal finance blog Sat, 21 Nov 2009 04:07:50 -0600 http://wordpress.org/?v=2.8.6 hourly 1 http://www.moneycrashers.com/reduce-your-financial-risk-during-this-recession/comment-page-1/#comment-6505 Kristy @ Master Your Card Wed, 18 Mar 2009 09:09:00 +0000 http://www.moneycrashers.com/?p=750#comment-6505 In terms of the emergency fund, I was reading somewhere the other day that during recessionary times it's a good idea to have an equivalent to what the unemployment rate is. So, for example, since unemployment is at 8.1%, people should have about 8 months worth of expenses saved up. I think that's a pretty good way to look at it, though during normal times, I still think 3-6 months preferable. Personally, I'm aiming for 12 months. In terms of the emergency fund, I was reading somewhere the other day that during recessionary times it’s a good idea to have an equivalent to what the unemployment rate is. So, for example, since unemployment is at 8.1%, people should have about 8 months worth of expenses saved up. I think that’s a pretty good way to look at it, though during normal times, I still think 3-6 months preferable. Personally, I’m aiming for 12 months.

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