## A practical range
Single earner + volatile income: aim higher (often 6–9 months of essential spend). Dual stable income + strong family support: 3–4 months can be enough to start. Use Emergency fund and 50/30/20 budget with must-pay costs only — Netflix is not a must-pay.
## Where to park it
If you cannot access the money in 1–2 business days without penalty, it is not an emergency fund. Yield is secondary. After the floor is met, push surplus to Savings goal or debt — in that order only if high-interest debt is eating you.
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Note: Educational content from Calcly Australia. Official sources (ATO — PAYG educational; super is employer cost not deducted here.) and licensed professionals take priority in Australia.