Having an emergency fund in place is going to be one of the best decisions that you can make when it comes to living in an apartment. This is going to give you some of the money that you need to handle some of the emergencies that come up, without you having to take on debt in the first place or add to your pile of debt that you are already dealing with. You can just use the fund and pay in cash for what you need along the way. But one question that a lot of people will have when it comes to starting an emergency fund is how much they should put back into it.
If you still have some debts to pay off and a limited income, then you should work with a starter emergency fund. This is not going to require you to put a ton of money back in order to have the fund, but it is something and can help with some of the smaller emergencies that may come up along the way. For most people, putting about $1000 into this fund is going to be plenty. If you do end up using this money, then you can just add more in as it works for your budget.
Once your debts are paid off and you feel a little more financially secure, it is time to work on the fully funded emergency fund. This is going to be the one that you will use in case of a bigger emergency or even if you end up losing your job along the way. Depending on the type of job you have and how expensive your lifestyle is, you should put aside between three to six months of expenses into the emergency fund.
No matter which emergency fund you decide to go with, you will find that it will give you some of the peace of mind that you need. You can then spend your time working on some of those other important financial goals you would like to reach.
The more room the better when it comes to the apartment that you want to make your own. We welcome you to come take a look around and see why some of our great units will stick out and be the one that you want to choose. We offer some amazing large apartments in Delray Beach to help you get exactly what you want in your new home. With lots of space, the great amenities that you want, and a safe and secure location, it will be time to move right in. Come and take a tour of our units today.
