The Most Important Financial Move You Can Make in 2020
The start of a new year is a good time to take stock of your finances and change them for the better. That could mean making an effort to boost your retirement savings, paying off some costly debt, or socking away funds for specific goals on your radar, like college or buying a home.
But if there's one money move to especially focus on this year, it's building an emergency fund. Doing that is so important, in fact, that it should trump any other financial objectives you set for yourself.
Having emergency savings to cover three to six months of living expenses is crucial. Why? Think about the many scenarios in life in which you may need money in a pinch. A pipe in your home could burst or leak; your car's transmission could fail at the worst possible time; your health could take a turn for the worse, landing you in the hospital or leaving you unable to work for a period of time.
Source Fool.com
