Everyone Around You Is Broke!
Ramsey Everyday Millionaires
Ramsey Network
4.6 • 3.6K Ratings
🗓️ 15 February 2023
⏱️ 4 minutes
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| 0:00.0 | You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth, |
| 0:10.5 | and outrageous generosity. |
| 0:14.0 | Let's go to Greg and Marianne, what's up, Greg Reef? |
| 0:17.1 | Good, how are you? |
| 0:18.8 | Good man, what's happening? |
| 0:19.8 | Um, here's the question that I had. |
| 0:23.0 | I have a $20,000 emergency fund. |
| 0:27.1 | And what I did is we needed a remodel of the basement, and you know, we turned it into |
| 0:32.2 | a living area, and I depleted my regular savings account, and I'm paying me $5,000 a month |
| 0:37.9 | of my mortgage. |
| 0:39.5 | Do I need to stop paying as much on my mortgage and rebuild like my regular savings account |
| 0:44.1 | or just keep surrounding it at the principal of the mortgage? |
| 0:48.1 | Yes, you are on a pause paying extra on that mortgage until we have that emergency fund |
| 0:53.4 | back to where it was. |
| 0:54.6 | Let me make sure that you... |
| 0:55.6 | No, no, no, no, no, no. |
| 0:57.1 | You have an emergency fund and then you have a savings account. |
| 0:59.9 | That's the separate savings account. |
| 1:00.9 | What's the savings account for? |
| 1:02.4 | If I needed to... |
| 1:03.4 | If we wanted to do something, we did it out of that and set up using the emergency fund |
| 1:08.7 | or anything like that. |
... |
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