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Money Rehab with Nicole Lapin

How to Create an Emergency ("Oh F*#k") Fund

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.61.7K Ratings

🗓️ 17 May 2021

⏱️ 15 minutes

🧾️ Download transcript

Summary

Nicole covers how much emergency fund you need based on your lifestyle and your job description, why one size doesn’t fit all, where to stash your cash.. and whether you need a doomsday bunker. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Hey guys, are you ready for some money rehab?

0:05.0

Wall Street has been completely upended by an unlikely player. Game stop.

0:09.0

That's a good thing.

0:10.0

And should I have a 401k because then I'm gonna do it?

0:12.0

No, I know.

0:15.0

I think the whole world will roll around you on your money.

0:17.0

What the fuck?

0:19.0

Charge for wasting our time.

0:23.0

I will take a check.

0:25.0

I got a bullsh**t.

0:27.0

You recognize her from entering on CNN, CNBC, and Bloomberg.

0:31.0

The only financial expert you don't need a dictionary to understand.

0:35.0

The cold lap in.

0:37.0

Way back in week two, I told you all about how to make a freaking budget.

0:41.0

I gave you my recipe for a successful spending plan.

0:45.0

70% going to the essentials, 15% going to the extras, and 15% going to the end game.

0:52.0

Which includes your emergency fund.

0:55.0

And yes, the cold lap in really likes alliteration.

0:59.0

Not surprisingly, very few people question the 15% for extras.

1:05.0

I just think we're all so sick and tired of so-called financial experts telling us we can't spend any money on extras like latte.

1:13.0

So money rehabbers, take that 15% and run with it.

1:18.0

As you should, that's what you work so hard for.

...

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