In life it’s best to expect the unexpected. Things don’t always go to plan. Whether it’s repair work on the car, new gutters or a hefty electricity bill, you sometimes need extra cash – fast.
This is where an emergency fund can help. Setting aside some money in case of an emergency will help you if something unexpected happens.
As a general rule, about three months salary is a good amount. This might seem a lot, but if you can save regularly you’ll be surprised at how fast your emergency fund will grow.
But make sure your emergency funds are easy to get at, as you never know when you might need to make a withdrawal. Online savings accounts like the AMP Saver account are accessible when you need them and offer competitive interest rates.
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It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.
This information is provided by AMP Life Limited. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.