Emergency 🚨 Funds +++

We often hear about emergency funds & we undoubtedly experience the ever consistent occurrences of those emergencies.

• However, the big question is how much that emergency funds should be… 🤔?

No one can tell you without sitting with & customizing the analysis to you.

Skeletal Template/Framework above: Figure out how much you spend monthly (Rough details👆🏾) *{Make the list very exhaustive}* then multiply that by 6.

• Experts say 3 – 6 months but since 6 months’ savings gives you more cushion than 3 months’ (in the case of a job loss or care for a family member or whatever life “pleasantly” throws our way), and since I am not an expert… *Let’s aim for 6 months.*

Then keep ~1000 bucks in a cozy account for the raining day (where you still have your job and everything is smooth sailing but you need money to set some things straight e.g. car maintenance, home equipment or other non-negotiables NOT your YOLO lifestyle 😒) – let’s call it “$1000 for POM (Peace of Mind)”

Caveat: if you use your $1k 4POM (or part of it), always replenish it immediately (Not with your monthly savings though – cut your Starbucks budget or anything else to replenish that $1k 4POM)

📥📩 DM me for any questions!

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