Especially when youre just starting out, self-employment can be unsteady.
Youre not sure when the next client will come or how long the gig will last.
For this reason, one financial planner suggests doubling down on your emergency fund.
Thats double what he recommends for clients with jobs that offer steady benefits.
Experts are all over the place in terms ofhow much should actually be in your emergency fund.
Some say six months of expenses is overkill.
Some even say three months is too muchyoure better off investing your savings instead.
This helps make up for the instability that often comes with working for yourself.
For more detail, head to the link below.
5 Steps to Take If You Plan to Be Self-Employed| Consumer Reports
