A HSBC manager has spoken out about the importance of keeping an 'emergency fund' and has revealed how much money people should aim to set aside for one. Intended to help cover any emergency situations, such as a job loss or unexpected bills, emergency funds are increasingly popular - but they can vary from person to person.

HSBC's website explains: "Building an emergency fund can help prevent you needing to borrow money or make difficult financial decisions in those moments, by giving you savings to fall back on. How much you need, and what an 'emergency' is, will depend on your situation."

However, a good rule of thumb is to aim to save at least three months' worth of living expenses. In a video shared on HSBC's TikTok account, a HSBC UK Personal Banking Manager named Rupi bro

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