Having an emergency fund should be a cornerstone of your personal budget.
Experts recommend that you should have at least three months of expenses in savings to handle unforeseen circumstances. But how much money should you save before you intentionally quit your job? That is a harder question to answer.
For Tori Dunlap, founder of the woman-focused financial-education company Her First 100K, the number was $100,000.
Dunlap landed an entry-level marketing job after graduating college and soon learned that corporate life wasn’t for her.
She set a goal of saving $100,000 by the time she turned 25 and started a personal finance blog. Her savings grew, as did the number of her blog followers. By the age of 25, Dunlap hit that financial goal of hers and became a full-time entrepreneur.
Watch this video to learn the four steps Dunlap suggests everyone should take to build a safety net of their own.