Everything You Need to Know About Emergency Funds #021
How to Money
iHeartPodcasts
4.6 • 3.2K Ratings
🗓️ 30 May 2018
⏱️ 44 minutes
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Summary
Nearly half of Americans wouldn't be able to easily handle a $400 emergency! This is financial insanity. Considering the lack of any sort of margin in our lives today, it shouldn't be a surprise that Americans treat their money any differently than they treat their time. There just never seems to be enough, and any disruption (of money or time) brings a myriad of problems that must be addressed. Living paycheck to paycheck has unfortunately become the norm and it's a problem that needs to be addressed.
The answer is to create an emergency fund! Having an emergency fund allows us to weather these small storms, and most importantly reduces stress. In this episode we discuss what an emergency fund is, what it is for (and not for), and how to get started on your own- including where to put that money! Listen to the entire episode to learn what steps you can take today, regardless of your financial situation.
At the beginning of this episode we each cracked open and enjoyed a beer called Liliko'i Kepolo by Avery Brewing, a Belgian-style white ale which you can learn all about on Untappd. If you enjoyed this episode, be sure to subscribe and review us in Apple Podcasts, Castbox, or wherever you get your podcasts!
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Transcript
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| 0:00.0 | Check out the Your Financial Maven Podcast where we need to change the way we think about |
| 0:05.4 | money, our understanding of it, and the effects. |
| 0:08.4 | I'm Samantha Mitman-Bessnov, CPA, and I have spent over 25 years in the accounting field. |
| 0:13.7 | The Your Financial Maven Podcast will touch on things like saving and budgeting and |
| 0:17.7 | really anything around money to help you feel financially empowered. |
| 0:21.7 | Listen to the Your Financial Maven Podcast on the iHeartRadio app, Apple Podcast, or |
| 0:26.8 | wherever you get your podcasts. |
| 0:30.3 | Hey, it's Joel. |
| 0:31.3 | And Matt. |
| 0:32.3 | And if you're like us, you're probably staying up way too late, asking questions like, |
| 0:36.1 | how can I hate my taxes less? |
| 0:37.6 | Or did my recent medical bill really have to cost that much? |
| 0:41.6 | Well, look, you can go to bed at a normal time because Freakinomics Radio, one of our |
| 0:45.5 | favorite podcasts, is here to help. |
| 0:47.5 | Yeah, Freakinomics Radio has more than 500 episodes worth of answers to your biggest |
| 0:52.5 | money questions with the help of fascinating guests, including CEOs, artists, and Nobel |
| 0:57.8 | laureates. |
| 0:58.8 | Make sure to check out their new series about the economics, the politics, and the ethics |
| 1:03.6 | of returning the world's art to its makers. |
| 1:06.9 | Listen wherever you get your podcasts. |
| 1:10.1 | What's up, y'all? |
| 1:11.1 | My name is Mimi Walker, and I'm your resident auntie Supreme, over at Hamming My Purse, |
... |
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