Emergency fund
The Notgroschen (emergency fund) is your financial safety net. It protects you against unexpected expenses that would otherwise lead to debt: the washing machine breaks down (€400), the car needs a repair (€1,200), or you lose your job.
How much? Financial experts recommend 3–6 months' net salary. With €2,000 net, that's €6,000–12,000. Families with children should aim for the upper end.
Where to keep it? In an overnight money account – there the money is available at any time and earns a little interest (1–3% per year). Definitely not in shares or ETFs, because they can lose value in the short term – exactly when you need the money.
📚 Emergency fund understood?
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