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Is there a good rule of thumb for how much I should have set aside as emergency cash?
Between 6 months and a year is normally regarded as the "standard".  Plan out what your monthly expenses are and save that money away.  One thing to consider is what extras can you give up.  If you are currently eating steak and lobster every day can you live with switching to ramen noodles for a period of time?  Can you switch from premium cable to basic cable (or cancel it altogether)?  Questions like this can greatly impact the amount you have to set aside. I personally have my emergency fund in CDs that mature the first of every month.  I know there is less liquidity in this approach but I'm ok with that.  My emergency fund is a sum of cash I'll always have so I wanted to reap the benefits of a higher yield.  If it comes down to it I can place an expense on a credit card and pay off the credit card when funds become available.