In this episode, Damien discusses the critical importance of having an emergency fund as a financial safety net. He outlines the steps to build an emergency fund, addresses common misconceptions, and provides strategies to overcome behavioral barriers to saving.
The episode also covers how to determine the appropriate size for your emergency fund, where to keep it, and how to adjust it over time as life circumstances change. Listeners are encouraged to take actionable steps towards building their emergency fund and to share their experiences.
Chapters
00:00 Introduction
01:09 Recap of Easy Mode Money Ladder
03:05 What is an Emergency Fund?
04:06 I Don't Need an Emergency Fund!
07:59 Overcome Barriers to Saving
14:17 How Much Should I Save in My Emergency Fund?
19:36 Where Should I Keep My Emergency Fund?
24:24 Adjusting Your Emergency Fund Over Time
25:48 Strategies for Building Your Emergency Fund
28:19 Viewer Feedback
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