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How much of our income should be for emergency purposes.
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[QUOTE="mmrahmantitu, post: 261489, member: 86161"] Generally, such expense should be at least 20% of your gross income. But, if you’re in an emergency, it should go up to 40%. There are a few factors behind this 20-40% rule, the biggest being how much you can afford to lose. If you can afford a lot of money, you can afford to lose less. If you can only afford a little bit of money, you need to ensure that it is being spent in a way that protects it. And finally, the other part is how much of your money is being used for emergency purposes and how much is being used for longer-term goals. If all of it is used for emergency purposes, then less money is available for longer-term goals. Generally, 20-40% of your gross income should be reserved for emergencies. [/QUOTE]
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How much of our income should be for emergency purposes.
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