Is it 3 months or 6 months of expenses?

Both are defensible , it depends on how steady your income is and how fast you could replace it. Two stable incomes lean toward 3 months; a single or variable income leans toward 6. Start with a 1-month buffer either way so you are never at zero.

Should the emergency fund be based on income or expenses?

Expenses , specifically your lean, must-pay expenses. Sizing it off income overstates the target, because in a real emergency you cut discretionary spending first.

Where should I keep it?

A separate high-yield savings account: liquid (same-day access), safe (not invested), and out of your everyday chequing so it is not accidentally spent. The goal is certainty, not returns.

Emergency fund or invest first?

Secure a small starter buffer first so a flat tire does not become credit-card debt. After that, many people build the fuller fund and invest in parallel rather than fully finishing one before starting the other , momentum matters.

How does Wiggle Budget help me hold the line?

Keep the fund as a separate savings account so it stays out of your spendable "chequing" balance, and let the timeline project your real cash forward , so you can see what is genuinely safe to spend without dipping into the fund.

How much emergency fund do you really need? A simple way to decide

How much emergency fund you need: 3 to 6 months of lean expenses, how to size it, and where to keep it