Re: 8/2008 Interview with Rebecka Melson of Virtual Business Services
Six months is a good place to start, but most financial advisors now will tell you to have a year's worth of an emergency fund. I think this is even more necessary for small businesses whose sole income is dependent on their business.
Personally, I don't even have 3 months of savings yet, but I'm working on it. As I mentioned above, I did acquire some credit card debt during this process and I feel it is more important to pay the debt off first. As soon as the debt is gone, all the extra money will go to savings.
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Rebecka Melson ~ Virtual Business Services
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