I agree with the above post in pretty much every point, and I'd like to point out a difference. If you're the sort of person which gets antsy without a 3 month minimum emergency fund, by all means, create one. Because if you don't have one, and you'll be worrying about it, then you'll be attracting more of that which you are afraid of. However, if you have one and you don't think about it anymore except to get a nice sense of security every time you think about it, then its good. You might even call it a security fund rather htan an emergency fund.
And like the above said, its not what it actually is, its how YOU relate to it. There are people who relate to a 10,000 dollar a month income as too little.
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