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3 Tips to Build Your Emergency Fund when life throws the unexpected your way (#354)
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المحتوى المقدم من A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
In today’s episode, A.B. Ridgeway tackles a topic that is crucial for financial stability: replenishing your emergency fund. Whether you’re single, married, or an entrepreneur, your emergency fund is your financial safety net when life throws the unexpected your way.
Key Takeaways:
- Customizing Your Emergency Fund The standard advice is to save 3-6 months of living expenses, but your situation may require more. Families with dependents or entrepreneurs should consider saving up to 12-24 months of expenses to weather potential financial downturns.
- Cut Unnecessary Expenses Review your subscriptions and other automated payments. Many of us pay for services we no longer use. Cutting these out can free up funds to boost your savings without feeling a financial pinch.
- Budget Wisely Building an emergency fund starts with creating a realistic budget. Even small amounts can add up over time. Slowly chisel away at your savings goals by diverting funds from non-essential expenses.
Quotes:
- “Like raindrops that suddenly start to fall, life can be full of surprises. An emergency fund is a financial umbrella ready to shield us from unexpected storms.” — Tamara Thomas
- “If you're truly going to prepare for the unexpected, you need to make sure you have the right amount of cash flow, not too much and not too little.” — A.B. Ridgeway
- “One of the best things you can do is print out your bank statement and see what services you're paying for but not using. You could free up money in your budget without sacrificing your lifestyle.” — A.B. Ridgeway
Tune in to hear practical tips on how to build and maintain a robust emergency fund to safeguard your financial future!
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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
Video/Audio Credit: SchoolsFirstFCU
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