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6 months emergency fund is for normal economic situations. When you get a situation like the financial crisis where companies aren't hiring for more than a year
by porpoisely 8y ago
6 months emergency fund is for normal economic situations. When you get a situation like the financial crisis where companies aren't hiring for more than a year, then 6 months doesn't help much. Especially when businesses in your town shut down or your entire industry is suffering. The financial crisis wasn't your normal recession. It hurt a lot of people who followed the rules.