222: Emergency Funds 101

 

Johnny & Derek go over everything related to the ever important “Emergency Fund”. From how to save for it, where to store it, use cases where it saved them and more. It’s extremely important to have readily accessible funds for emergencies, but many people still don’t do it! Listen to this episode and get your emergency fund sorted before you need it.

  

Where we are:

Sponsor:

Like these investments? Try them with these special ILAB links:

  • ArtofFX – Start with just a $10,000 account (reduced from $25,000)
  • Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)

*Johnny and Sam use all of the above services personally.

Time Stamp:

  • 05:55 – What’s the percentage of Americans who can cover a $400 emergency?
  • 09:05 – First you need to work out how much you need for an emergency fund?
  • 12:53 – Where do you keep the money?
  • 16:16 – Don’t have your money all in one currency
  • 20:55 – What about saving some money in Bitcoin or other crypto currencies?
  • 25:30 – Where can we get the best yields in savings accounts?
  • 28:17 – Should you use emergency funds to cover Debts?
  • 29:47 – What steps to take to get the emergency fund started?
  •  33:41 – How Johnny started his Emergency fund

If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here

Copyright 2022. All rights reserved. Read our disclaimer here.

Liked it? Take a second to support ILAB on Patreon!