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What You Need to Know About Emergency Funds to Make Sure You're Ready for Anything Be prepared when life throws you a curveball.

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Life is unpredictable, which is why it's risky to try to live paycheck to paycheck. If you can, it's best to set aside money for an emergency fund in addition to your other investments. That way, you can be ready when something unexpected and unwelcome comes your way.

In this video, Entrepreneur Network partner Phil Town quickly breaks down what you need to do to make sure you have an emergency fund that actually works for you. He explains what you'll need to make sure you can afford, how long your emergency fund should be able to sustain you and more tips that can help you develop a plan for emergency funds that works best for you.

Click play to learn more.

Related: The 10 Commandments of Investing, From Billionaires Like Warren Buffett

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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