Why Your Emergency Fund Should Cover 1 Year of Expenses

Who hasn't been caught off guard by an unexpected expense: a flat tire, a leaky roof, a broken appliance, or a lot worse. For many, the short-term answer is a credit card. But for most, having an emergency fund would be ideal. So, how can you start preparing for unexpected expenses? In this week’s episode of Money Glow Up, host Tiffany Aliche speaks to Tanya Talyor, financial coach and CPA, about how to build an emergency fund even if you’re already on a tight budget. Tiffany Aliche creates a space to share real and inspiring money stories, learn financial fundamentals, and build your future. Step into the classroom with Money Glow Up with Tiffany Aliche—aka The Budgetnista—to jump-start your financial journey. Have a money story of your own? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com. Find this episode's transcripts and more episodes of Money Glow Up at http://finance.yahoo.com/videos/series/money-glow-up/. 00:00 - Tanya Taylor joins Money Glow Up 03:26 - The ideal amount of money for an emergency fund 06:14 - How to free up money for an emergency fund 07:34 - Ideal places to keep an emergency fund 13:26 - How to build an emergency fund faster 22:05 - Takeaways Tanya Taylor is a Financial Coach and author with a background in wealth building and financial education. Taylor has spent over two decades helping people plan for a secure financial future. Yahoo Finance's Money Glow Up is hosted by Tiffany Aliche and produced by Lauren Pokedoff and Shelby Boamah.