How much money should I be putting into short-term savings?

The amount of money you should put into shortterm savings depends on your individual financial situation, expenses, and goals. As a general rule of thumb, you should aim to save at least three to six months of your living expenses in an emergency fund. This will provide a financial cushion in case of unexpected events, such as job loss or medical emergencies.

Apart from emergency funds, you should also consider your shortterm savings goals, such as saving for a down payment on a home, a vacation, or a major purchase. You should set a specific savings goal and determine how much you need to save each month to achieve it within your desired timeframe. It's important to be realistic about your savings goals and to make sure you can comfortably afford to save while also meeting your other financial obligations.