The usual target is 3 to 6 months of your basic expenses: rent, food, transport, utilities, school fees and loan repayments. Not your full salary, and not your wants.
- If your income is steady (a permanent job), 3 months is a good target.
- If your income changes month to month (business, commission, gigs), aim for 6 months.
- If you support others, count their basic needs too.
Work out your monthly basics, then multiply. If that number feels huge, set a first milestone of one month. Hitting it will feel great.
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