4 Financial Moves to Make If You're Single

4 Financial Moves to Make If You're Single

Whether you're single by circumstance or by choice, not being part of a couple can pose a number of financial challenges. Not only might you lose out on certain tax benefits, but you'll be limited to a sole income to cover life's expenses. That's why it's critical to protect yourself from financial upheaval, both now and in the future. With that in mind, here are four key money moves to make.

Generally speaking, working Americans are advised to have enough money in an emergency fund to cover three to six months' worth of living expenses. The logic is that doing so will tide you over during an extended period of unemployment, or provide adequate cash for a hefty unexpected bill. If you're single, however, you may want to aim a bit higher by stashing nine to 12 months' worth of expenses in the bank.

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Source: Fool.com