The 6X Emergency Rule is a rule of thumb that tells you to save the money from your monthly salary for an emergency fund 6 times your current monthly expenses. This exceptional rule can save you from unforeseen danger or financial loss or family illness.
For example, if your monthly expenses are $3500 then you would aim to save up to $2100 in emergency funds to cover up unexpected expenses.
This strategy can help you backup your family over any kind of crisis, job loss, accident or medical bills, etc. that may occur without prior notice.
Therefore, you should decide to save up for yourself and your family for being immune to financial danger or health losses.
