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#80: What Is An Emergency Fund for, Anyway?
Manage episode 346259955 series 3151562
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You've probably heard of it before (it’s nothing new), but have you ever wondered WHY we have an “emergency fund”?
My whole mission is to empower you so that you know you have the knowledge within you to make solid financial decisions yourself.
Because that’s something you can carry with you for the rest of your life.
So… what is an “emergency fund”?
Let’s start first with the energy and intention behind it.
I don't tend to call it an emergency fund (but it’s often called that).
Why?
Because I don’t want to manifest a freaking emergency!
I have zero intention to put that energy out into the world.
So instead I have money to enable me to make decisions in line with my values. Money that I have set aside to help protect me, to make me feel secure, money that gives me choices.
More aligned names might be: cash reserve, buffer fund, overflow account, a rainy day fund…. or you can get a lil spicy and go with f*ck it fund (to do what you want).
Our words have incredible power, so when it comes to what we are creating - we literally speak our desires into existence.
Ok, that aside - there is also the practical part about what this fund is actually for. And there are a lot of them. I talk about this in this episode - why we should have one, what is the point of it, and how much you should actually have set aside. I also cover real numbers on “how much” you might want to hold.
Dive into this ep as I talk about this amazing financial foundation, so you can set yourself up for long term wealth creation and investing.
xo
Simone
P.S. If you want to continue learning after this, watch the free investing training found at www.mswealthy.com
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LEGAL STUFF: All content provided by Ms Wealthy Pty Ltd (we, us, our) is for education purposes only. Any use or reliance on this content is entirely at your own risk. The content is factual information and general comment only and does not constitute advice. I am not a licensed financial advisor. The content does not take into account your personal objectives, situation or needs and may not be appropriate for you. The information that is found here are my opinions, and should be taken as such.
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