Can we also consider a LOC as an emergency fund?Ok, so the usual advice is that an emergency fund should cover around "3-6 months" of expenses. Some people say 3 months' income, others say something else.
What does this mean to you in actual dollar figures?
Personally, for us (two-income family with two young kids), we're aiming for an E-Fund of about $20,000. This would cover 6 months of expenses in case of a major emergency (job loss, major illness etc). I'm curious as to whether this is bigger or smaller than what other people might aim for.