Patiently manage your emergency fund

Having an emergency fund can prove life-saving when you are in desperate need of money. However, before starting to use the money, make sure the situation really requires the measure. 

For instance, try spending the money on situations that occur totally unexpectedly rather than on event...

Calculate the minimum amount you could survive on if things got tight, then multiply that amount by three. That is your starting goal for your emergency fund.

Eventually you'll want to save enough to live on for three to six months if you had to.

Your first step is to figure out what counts as a true emergency. 

Not all emergencies can be predicted, but many can. Car repairs, medical expenses, higher-than-normal bills. Even having a list of things that you can and cannot spend an emergency fund on can help you stay on track a...