1. The 3-6 Month Emergency Fund Priority
Before investing in volatile equity markets or locking funds in long-term certificates, build a liquid emergency fund covering 3 to 6 months of essential living expenses.
2. Sinking Funds for Planned Expenses
A sinking fund is a dedicated savings category for predictable future expenses—such as a home down payment, vacation, wedding, or vehicle purchase. Dividing your target amount by months remaining gives your exact monthly deposit goal.
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