Emergency Funds: The Ultimate Guide to Saving Money
The Personal Finance Podcast
Andrew Giancola
4.7 • 1.4K Ratings
🗓️ 27 May 2020
⏱️ 35 minutes
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Summary
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| 0:00.0 | On this episode of the Personal Finance Podcast, |
| 0:03.0 | we're going to talk about how you can stack some cash for your emergency fund |
| 0:06.5 | and how you can still drink Fiji water, even when you lose your job. What is up everybody and welcome to the personal finance podcast? I'm your host Andrew |
| 0:32.2 | founder of Dollar After Dollar.com and today |
| 0:36.3 | we're going to give you the ultimate guide to saving for your emergency fund because |
| 0:40.9 | the emergency fund is one of the most important things that you can do |
| 0:44.7 | financially to protect yourself. The reason being is that life's going to happen and |
| 0:49.9 | it's not a matter of if you're going to need your emergency fund but it is a matter of when you're going to need your emergency fund. |
| 0:56.0 | And when everything hits the fan you're going to need to be ready financially because having this cash cushion is not about restriction, |
| 1:03.2 | it's about having freedom and peace of mind. |
| 1:06.2 | And you just want to remove that burden from your brain |
| 1:08.7 | to be able to make good decisions financially, |
| 1:12.2 | no matter of circumstances. you can prepare for any |
| 1:15.0 | storm that's ahead of you and what a lot of people do is they lie to themselves and say |
| 1:19.3 | that they're going to have the funds ready if something comes up, but they don't actively pursue saving |
| 1:25.0 | up cash to be able to save for those storms that are ahead. |
| 1:28.2 | But if you put a bulletproof emergency fund together, the emergency fund will allow you to take on any headwind that comes your way. |
| 1:35.0 | Lose your job, no big deal. |
| 1:37.0 | You have the cash to keep you afloat until you find another one. |
| 1:39.0 | If your car engine fries on the highway, |
| 1:41.0 | you'll have cash to pay right away the mechanic. |
| 1:44.0 | If your water heater goes out, you're going to have a new one the next day, because you're going to |
... |
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