I’ve heard several financial experts say you should have between 3-6 months or 6-8 months of expenses in a liquid account in case of an emergency. After seeing several friends loose their jobs for a longer time than that. I now think 12 months is a solid rainy day fund, especially if you’re single or the only breadwinner in your house. The more of a rainy day fund you have the better, because once your income is gone, there is no money coming in at all until you find another way to bring in some cash.
I know it may take a long time to save 12 months worth of expenses, but you could start small and aim to have 12 months. The key is to have some money saved for a rainy day versus having none at all. We never know when that rainy day is going to hit us, and it will eliminate a lot of stress if you have extra money versus having to rack up those credit cards to pay your bills.