In last week’s blog post, I shared a number of tips on how to manage the COVID-19 crisis in your personal finances. I had mentioned the emergency fund as an important vehicle in your financial setup to manage unforeseen disasters. Set up the right way, the emergency fund can buffer away risks of intermittent earning and buy you loads of peace of mind. The importance of having an emergency fund has been underlined by the current COVID-19 situation. But how does it really work? What is best practice?

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