In this week's episode, we are talking about how important a mini emergency fund is, especially during the debt payoff process. Emergencies will happen, so it’s on you to prepare for them and reduce your reliance on debt (credit cards) when you get serious about getting out of debt.
Welcome to the Balanced FI Podcast, episode 5! Thank you so much for listening in!
Despite what others may say, a $1000 mini emergency fund is not enough when you’re paying off debt. You’re going to have emergencies, and they’re probably going to be bigger than that, unfortunately.
Resources:
Read: Save a Mini Emergency Fund, Financial Security Step 2a
Read: Begin Saving for Retirement, Financial Security Step 2b
Download: free Emergency Fund Tracker
Sources:
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