In this episode…
We discuss the ins and outs of emergency funds and other short-term savings like house deposits etc.
How much do you need? Where should you keep it? Balancing risk vs reward, and much more.
Listen to the show… https://strongmoneyaustralia.com/wp-content/uploads/2020/07/7-emergency-funds-short-term-savings.mp3 (if you prefer, download the mp3 file here)
Discussion points… What is an emergency fund and why do you need one? (1:09) How much do you need in your emergency fund? (6:13) The many different types of emergency funds, Pat’s approach and how it works in practice (14:17) Is there any way to optimise this stuff? (25:01) Saving for a house; where should you keep the money? (28:42) Dave’s approach to emergency funds (32:07) Listener case study: “I feel like I’ve already over-extended on big ticket items, is it still possible to scale back and reach FI?” (38:57) Join my mailing list below to get notified of future episodes in your inbox:
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