Why was six months chosen as the ideal rainy day fund timeframe?
A rainy day fund is especially important in the event that you lose your job. In a normal economic climate, it takes just over six months on average to find a new job, according to the Bureau of Labor Statistics. As such, we’ve set your goal to be six months net income. That way, if a little rain falls in your life, you’ll have enough to get by without too much hardship.
