Amid widespread layoffs, many New Yorkers are trying to siphon any extra money into emergency funds to cover them through a potential period of unemployment.

Now, a new analysis from GOBankingRates reveals how much cash Empire State residents should have saved to cover 3 months of expenses.

The company calculated the amount spent on “necessities” in New York based on the 2023 Consumer Expenditure Study compiled by the Bureau of Labor Statistics. They defined necessities as “groceries, shelter, utilities, fuel and public services.”

New Yorkers need a substantial amount saved in an emergency fund to cover 3 months worth of essentials, new analysis has found. REUTERS

It turns out New Yorkers need a total of $12,158 to carry them through 3 months, per the report.

However, given that GO

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