Can You Have Too Much Money in the Bank? (My Answer May Shock You)
The Rachel Cruze Show
Ramsey Network
4.8 • 3.6K Ratings
🗓️ 2 March 2026
⏱️ 5 minutes
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| 0:00.0 | When you see the title of this episode, you probably assume that the answer is, well, of course not. |
| 0:09.5 | You know, you always want more money in the bank. |
| 0:11.5 | Wrong. |
| 0:12.2 | So stick around to find out why, and be sure to like, subscribe, and share this episode with a friend. |
| 0:16.7 | So listen, there are some important financial milestones that you want to have, very much so. |
| 0:20.4 | But the idea of just having endless money sitting in any random account is not a great strategy. |
| 0:25.5 | So here are three questions to ask yourself. |
| 0:28.6 | It's really important to get specific with your money. |
| 0:31.5 | Number one, what does it mean to have enough money in the bank? |
| 0:34.8 | If you are paying off debt, $1,000 is the emergency fund that you need. So that's it, which doesn't seem like a lot, you know, because it's not, I mean, in today's world, like it's kind of scary to live with just $1,000. But listen, when you are paying off debt, you are throwing everything at it. I mean, you are, don't cash out retirement. But if you have investment savings, all this stuff, okay, all these |
| 0:55.4 | like accounts, you cash it all in and you pay off your debt. And then once you're debt free, |
| 1:01.7 | then you bump up that $1,000 emergency fund to three to six months of expenses. And at that point, |
| 1:07.6 | you can move on to investing in your kids college and all of it. But there's something really powerful to say, yeah, if you have tons and tons of money |
| 1:15.6 | and your checking account or a savings account and you have a lot of debt, it shouldn't be the case. |
| 1:19.6 | Again, simplify and pay off your debt. |
| 1:21.6 | Now, one of the easiest ways to look into your future and to say, gosh, I need something |
| 1:26.6 | to help me besides just an emergency fund. |
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| 1:36.3 | buying and selling your data online. |
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