how much should be saved in an emergency fund 
most financial experts recommend that people contribute to an emergency savings fund to cover things like mortgage rent payments other bills and basic needs in the case of a job loss health emergency or other crisis while there is no consensus on exactly how much to save in an emergency fund many advocate for at least 3 6 months worth of living expenses the bottom linebeing house poor means spending a very large amount of monthly income on homeownership related expenses in order to calculate mortgage affordability some experts recommend spending no more than 28 of your gross monthly income on housing expenses and no more than 36 on total debts 3 if this is not possible there are also other options to cover extra expenses such as getting a second job using savings or even selling the property investopedia does not provide tax investment or financial services and advice the information is presented without consideration of the investment objectives risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors past performance is not indicative of future performance investing involves risk including the possible loss of principal 