- Determine how much you need in your emergency fund to help cover unexpected cost such as vet bills, appliances breakdown, vehicle repairs, medical expenses, etc. Ideally, an emergency fund should cover at least 3 months of your take home pay.
- Start making regular payments into the account, which should be separate from your everyday account.
- Put your pay rise or tax refund so that you can quickly build up this emergency fund .
- Always top it up to ensure that it is ready and accessible in case of unexpected events.
https://moneysmart.gov.au/saving/save-for-an-emergency-fund
