0:00.0	Hey everyone, welcome back. It's episode 976 of Money Girl. I'm really glad that you're here spending a little time with me. If you're new, I'm Laura Adams, an award-winning author, on-camera spokesperson, money speaker, and founder of the money stack. That's my substack newsletter.
0:23.8	You can subscribe for free and you'll automatically get my money success toolkit,
0:28.5	which includes the exact templates I use to manage my finances. Or you can become a paid member
0:34.7	and get access to my live educational and Q&A events. You can learn more,
0:39.9	ask your money questions, and sign it for the money stack at laura d adams.com. You can even leave me a
0:46.9	voice message with your question or comment by calling 302-364-0308. I love getting your messages and maybe even I can feature your question on
1:00.3	Finance Friday. That's our weekly Q&A bonus edition of the show. Today, we'll be talking about a topic
1:07.9	that is essential for achieving financial peace, and it's creating
1:13.1	the ultimate financial safety net. This is important because your personal finances are a balancing
1:20.2	act, kind of like walking on a tightrope. Think about what if all of a sudden you got an unexpected gust of wind like a job loss,
1:31.1	significant car repair or a medical bill that throws you off balance and maybe even into debt.
1:38.1	That's when it's crucial to have various financial cushions to stay safe.
1:42.9	Slowly building up your safety net over time is the best way to avoid or recover from a
1:49.4	financial setback as quickly as possible.
1:51.7	So we're going to go through four critical pillars that form an unbreakable financial safety net.
1:59.1	Number one, and you probably are not going to be surprised by this,
2:02.0	but number one is a cash emergency fund. I often talk about the importance of an emergency fund.
2:08.6	This is the first safety net pillar. And it's also called a cash reserve. You know,
2:14.1	all it is is extra money that you set aside, that you keep completely safe and keep
2:19.4	it easily accessible and separate from your regular checking or retirement accounts. If you don't
2:26.1	have this financial cushion to fall back on and you get a large expense or maybe a sudden
2:31.6	cut in income, it could take you years or even decades to
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