One of the key principals on the path to financial independence is to build up an emergency or “rainy day” fund. The purpose of such a fund is to provide you with a financial cushion in the event that you lose your job, are involved in an accident or are otherwise faced with significant unexpected expenses that your normal income can’t cover. The traditional advice is to build up your emergency savings account until it contains at least six months’ living expenses. But given the increasingly longer times that many individuals are finding themselves out of work, you might wish...

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