When it comes to financial planning, are you guilty of putting the cart before the horse? In this episode, we dive into why building an emergency fund of 3-6 months of expenses is your crucial first step—especially if you're a high-income earner tempted to skip the basics for bigger, flashier investments.
We'll break down practical strategies, including why paying off debt first reduces the size of your emergency fund, the critical role disability insurance plays for childfree individuals, and how separate sinking funds for life's regular expenses (like home and car maintenance) can save you from financial stress.
Tune in to discover why keeping around $1,000 cash handy might be your secret financial superpower—and learn the structured financial order you need: emergency fund → debt payoff → insurance → investing. It's never too late to build a solid financial foundation!
Action Items:
- Start by building a one-month emergency fund immediately.
- Regularly review your insurance coverage to stay properly protected.
- Establish sinking funds for predictable but irregular expenses.
Mentioned in this episode:
- Schedule your Childfree Wealth® Checkup here: https://childfreewealth.com/schedule-a-checkup/
Listen now and put your financial horse back in front of your cart!
The Childfree Wealth Podcast, hosted by Bri Conn and Dr. Jay Zigmont, CFP®, is a financial and lifestyle podcast that explores the unique perspectives and concerns of childfree individuals and couples.
Like the show? Leave us a rating & review!
If you want to join the conversation, email us at media@childfreewealth.com, follow Childfree Wealth® on social media, or visit our website www.childfreewealth.com!
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Schedule a meeting with a Childfree Wealth Specialist® HERE.
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YouTube: @ChildfreeWealthPodcast
Disclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.
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