Build A Wealthy Spirit
What would you accomplish if you felt empowered to take more risks and pursue work you love? Many of us live life on autopilot, checking boxes while constantly on the lookout for the next best job, only to realize we still feel dissatisfied and lack purpose. Each week, Sammie and Michelle explore tools their community can use to unlock their full potential. Since it’s hard to build a meaningful life without a secure financial foundation, they break down the most actionable ideas from the financial independence community to help people move from a season of scarcity to abundance.Money without purpose isn’t satisfying in itself, so they take things to the next level by sharing ways to identify your values so that you can feel empowered to pursue the dreams that are most meaningful to you. Join us as we rethink the status quo and Build A Wealthy Spirit!
Build A Wealthy Spirit
#67: Do You Even Need An Emergency Fund?
What is an Emergency Fund? Do you even need an Emergency Fund? How much money should you keep in your Emergency Fund?
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Show Notes:
- "When faced with a hypothetical expense of $400, 64 percent of all adults in November 2020 said they would have covered it exclusively using cash, savings, or a credit card paid off at the next statement (referred to, altogether, as "cash or its equivalent")—largely unchanged from 2019"
- Dave Ramsey - A Quick Guide to Your Emergency Fund
- Ramit Sethi - Emergency fund: how a few thousand dollars can save your life
- Morgan Housel
- The Psychology of Money
- Never Saw It Coming - Collaborative Fund Blog
- Cardi B
- Scott Trench - Runway
- BiggerPockets - An All-Out Approach to Financial Independence at an Early Age with Scott Trench | BP Money 2 (YouTube)
- Kodak Black Throws Stacks of $100 Bills Into the Ocean & Down the Toilet in New Videos
- Warren Berkshire
- Coast FI/RE
- Affirm
- Sequence Risk
- Timing Leverage in Retirement – SWR Series Part 52 (Sequence of Return Risks)
Related Status Post Adulting Episodes:
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Find more show notes and interact with the Build A Wealthy Spirit community at buildawealthyspirit.com!