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…
(if you prefer, download the mp3 file here)
- 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)
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