Should You Have an Emergency Fund for Inflation?
If you've been paying attention to your credit card bills, you're no doubt aware that living costs are up across the board. The purpose of an emergency fund is to serve as a source of money when unplanned expenses come your way, or when you encounter a situation where your income disappears or takes a hit (such as if you're laid off at work). Generally speaking, it's a good idea to sock away at least three months' worth of essential living expenses in your savings account.