To serve its purpose, emergency fund money needs to be easily accessible, such as in a savings account. Within my 40% allocated to savings, I put most in an emergency fund and the rest in a retirement fund. As a college student, I choose to put more in an emergency fund since I'm unsure what my post-graduate years hold. Read more: Best budgeting appsHow to start an emergency fund as a college studentStarting an emergency fund can feel nerve-wracking, especially if you have checking and savings accounts with different banks like I do. You can always add more to your emergency fund as you progress through life and your financial responsibilities increase.

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