A 25-year-old homeowner who went from a $13,000 debt to a net worth of $450,000 in five years has revealed why you need to build an emergency fund

A 25-year-old homeowner who went from a $13,000 debt to a net worth of $450,000 in five years has revealed why you need to build an emergency fund.

Marketing manager Queenie Tan, from Sydney, said she and her boyfriend Pablo have put aside $30,000 – enough to last them for six months without a salary.

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The couple – who purchased an apartment together after dating for six years – created an emergency fund to give them financial security for the future.

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Queenie Tan (pictured), from Sydney, who went from a $13,000 debt to a net worth of $450,000 in five years has revealed why you need to build an emergency fund

Queenie Tan (pictured), from Sydney, who went from a $13,000 debt to a net worth of $450,000 in five years has revealed why you need to build an emergency fund

‘We have an emergency fund of $30,000 which means that if we stopped making money, we would be able to live for Fremdgehen six months,’ Queenie said in her .

‘An emergency fund is three to six months of living expenses saved in cash just in case something unexpected happens.’

She said the pair used a free finance app called WeMoney to help them save a goal of $30,000 for their emergency fund. 

‘We track our expenses and ensure that we’re not spending more money than we normally do,’ Queenie explained.

The 25-year-old said she and her boyfriend Pablo (right) have put aside $30,000 that's enough to last them for six months without a salary

The 25-year-old said she and her boyfriend Pablo (right) have put aside $30,000 that’s enough to last them for six months without a salary

The couple - who purchased an apartment together after dating for six years - created an emergency fund to give them financial security for the future

She said the pair used a free finance app called WeMoney to help them save a goal of $30,000 for their emergency fund

The couple – who purchased an apartment together after dating for six years – created an emergency fund to give them financial security for the future. She said the pair used a free finance app called WeMoney to help them save a goal of $30,000 for their emergency fund

The app has a features that allows users to save money for whatever they want – including a house, car or holiday.

‘It helps you put in your own financial goals,’ she said.

Queenie said the amount of money you save every week comes down to ‘what you can comfortably put aside’. 

She previously explained how her financial success gradually accumulated after she started researching and investing when she was 19.

Queenie now has a diverse financial portfolio after purchasing her first property in 2019 worth $500,000 with a $100,000 deposit. 

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