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Money Girl

401 MG Should You Invest Emergency Funds or Keep Cash?

Money Girl

Macmillan Holdings, LLC

Entrepreneurship, Education, Investing, Business, How To

4.61.8K Ratings

🗓️ 13 May 2015

⏱️ 12 minutes

🧾️ Download transcript

Summary

Find out how much emergency money you need, the best places to put it, and whether investing some amount of it is a smart financial move. Read the full transcript here: http://bit.ly/1KsSPJB

Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

Hi everyone I'm Laura Adams. Welcome back to another weekly edition of the Money Girl

0:09.3

Podcast. In last week's show episode number 400 I invited you to join my new Facebook group called

0:16.2

dominate your debt the response has been fantastic many of you join and we've got some

0:22.4

terrific dialogue going on about paying off debt,

0:25.6

building credit, and reaching big financial goals.

0:29.2

So to observe or join in the conversation yourself,

0:33.0

visit dominate your debt on Facebook

0:35.2

and request an invitation to join.

0:37.1

Or you can text me and I'll send you an invitation right now.

0:40.9

Just text, Group 400, that's group 400,

0:44.0

400 with no space, to the number 33444.

0:50.0

In today's show, we're going to talk about a common question that comes up once you start building an emergency fund.

0:57.0

Now, even if you don't have an emergency fund yet, or you've only saved up a small amount. Keep listening. Please stay with me. I'm going to tell

1:06.0

you an easy way to get started and hopefully convince you that building up a reserve,

1:10.7

even if it's just a small amount, should really be your number one

1:14.8

financial priority. This show was inspired by a question that came in from a

1:19.2

brand-new Money Girl podcast listener named Brittany. She says, my husband and I are working hard to

1:25.8

pay off our student loans. So your podcast have been fun to listen to and help keep me motivated.

1:31.5

We have an emergency fund of $40,000 that's earning 0.75% interest in a

1:37.3

savings account. What do you think about investing the money instead to earn more interest?

1:42.3

First of all, thanks for your question, Brittany. the money to earn more interest.

1:43.0

First of all, thanks for your question, Brittany, and welcome to the show.

...

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