Whatever you decide to call it, it has the same purpose. A pot of money that is patiently waiting in an easy access account so that any unexpected life events that might occur (e.g. boiler breakdown, car repairs, job loss) wont throw your financial dreams off track. Its a security blanket for you and your finances. Just knowing its there can be life changing if you’ve never had one before. You can close your eyes every night with a smug smile knowing that you will be able to handle any of life’s financial curveballs.
The amount of emergency fund to save depends on how much is going to allow you to sleep soundly at night. This will be different for everyone but somewhere between 3 to 6 months of your living expenses is probably enough. If you currently have zero emergency fund then even one months living expenses will be a game changer. Just keep building it up.
Once you have an emergency fund in place you can pat yourself on the back and start to look at other options for the rest of the money you have been paying yourself first. We will come on to this in the following posts.
Semi-Retire FIRE 
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