How Much Should REALLY Be In Our Emergency Fund?

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The Ramsey Show Highlights

2 жыл бұрын

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Пікірлер: 367
@TheRamseyShow
@TheRamseyShow 2 жыл бұрын
Know where your money’s going when you budget with EveryDollar. Start budgeting for free: bit.ly/3jByPKA
@lucindabutler1100
@lucindabutler1100 4 ай бұрын
Hi, I have a question please, I'm from the UK, just want to say I love watching this show, I always learn something! Is it better to pay off credit card debt in larger amounts for example £1000 at a time or £50 here and there? Thanks x
@Jaylee549
@Jaylee549 2 жыл бұрын
Wife and I paid off our home yesterday and I can’t put into words the feeling right now!
@sami2865
@sami2865 2 жыл бұрын
Wow good for you, I’m nearly there, cannot wait to feel what your feeling 👌👌
@NeyJ
@NeyJ 2 жыл бұрын
Congratulations!!! Its only upwards from here!
@enricopallazzo3244
@enricopallazzo3244 2 жыл бұрын
Congrats!
@daystar73
@daystar73 2 жыл бұрын
Bravo.. 👍💯👏
@timange124
@timange124 2 жыл бұрын
Congrats!
@SammyIglesias4665
@SammyIglesias4665 4 күн бұрын
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@Ingridlourd02
@Ingridlourd02 4 күн бұрын
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@SammyIglesias4665
@SammyIglesias4665 4 күн бұрын
@@Ingridlourd02 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@Ingridlourd02
@Ingridlourd02 4 күн бұрын
@@SammyIglesias4665 Oh please I’d love that. Thanks!
@SammyIglesias4665
@SammyIglesias4665 4 күн бұрын
@@Ingridlourd02 Judith Ann peace is her name
@SammyIglesias4665
@SammyIglesias4665 4 күн бұрын
Lookup with her name on the webpage.
@moneybee
@moneybee 2 жыл бұрын
"The more money you have, the less true emergencies you have." Love that Dave quote, it really shows that money can act as a tool, and having the right tools can prevent you from getting into bad situations.
@joshuajohnson9936
@joshuajohnson9936 2 жыл бұрын
Another thing to consider Courtney is inflation’s impact on your buying power over time. I know Dave says all the time not to worry about inflation, that the money in your emergency fund is serving a purpose. I intentionally drove down my monthly living expenses so inflation would have less of an impact on me. I’m debt free now (including my house), which lets me keep a one year emergency fund ($30k) with lower fears of inflation. It also increases cash flow, allowing me to invest more and make gains, countering inflation. Love the videos, keep them coming!
@harryl7946
@harryl7946 2 жыл бұрын
Former employer always said that money is just a tool to do what needs to be done.
@moneybee
@moneybee 2 жыл бұрын
@@joshuajohnson9936 Yes! Inflation is so important to consider (especially where it is now and where it could be going). Congrats on being debt free, that's a huge step! And thanks so much for the support! 😊
@jimroscovius
@jimroscovius 2 жыл бұрын
Dave is right. With a good plan, inflation is nothing to worry about.
@eugeneabreut5208
@eugeneabreut5208 2 жыл бұрын
That’s obvious. Money fixes problems. That’s the reason we all want it. It’s always been like that. The only problems rich people have is family issues. Everything else gets fixed with money
@darinherrick9224
@darinherrick9224 2 жыл бұрын
I've left jobs and when I bumped into old co-workers on the street they bear hugged me and exclaimed! I'm so happy you escaped that awful place!!!!
@baldwinangel1218
@baldwinangel1218 2 жыл бұрын
😂 Ive had a job like that!
@inhawaii4941
@inhawaii4941 2 жыл бұрын
Same 😂
@Woke365
@Woke365 2 жыл бұрын
Do door dash and Uber. Fire your boss.
@Lcshell
@Lcshell 3 ай бұрын
Same! And Almost five yrs later I’m soooo glad to have “escaped”
@lonerista4778
@lonerista4778 2 жыл бұрын
This is actually an interesting topic. I am now restarting from zero and my salary has halved but I am going to make efforts even if it's 20$ a month in. Better than nothing 💪
@beyourbestselfeveryday391
@beyourbestselfeveryday391 2 жыл бұрын
That's a great start because saving and investing is more about establishing good habits than it is about the money. Rock on1
@lonerista4778
@lonerista4778 2 жыл бұрын
@@beyourbestselfeveryday391 💕
@cindyhardin3301
@cindyhardin3301 2 жыл бұрын
I started with $3 here $5 there. It works. Stick with it.
@heatherncasey2004
@heatherncasey2004 2 жыл бұрын
It is also helpful to have the amount you want to save taken out of your account into savings automatically, and also a little can go right into savings from direct deposit. It is very helpful, and you won’t miss it.
@carojames6776
@carojames6776 2 жыл бұрын
With that sort of determination sounds like you've already won the race, congratulations and good luck !!!!!!
@girliedog
@girliedog 2 жыл бұрын
Our emergency fund is enough to live on for one year within our usual budget. I also started an upkeep fund & a future car fund.
@lotto5742
@lotto5742 2 жыл бұрын
Might as well invest the rest.
@jgood005
@jgood005 2 жыл бұрын
Very smart! I do similar - have an emergency fund, then a car repair fund & car maintenance fund alongside it.
@mzeye
@mzeye Жыл бұрын
🥰
@mzeye
@mzeye Жыл бұрын
How muchis good,
@ultrahighgain412
@ultrahighgain412 2 жыл бұрын
Emergencies always occur in threes…or more. It’s never the hot water heater broke, the timing belt went, or the refrigerator quit…it’s typically all three within two weeks.
@markwhittaker6866
@markwhittaker6866 Жыл бұрын
😂😂😂😂😂 Very true indeed.
@GTRrocker84
@GTRrocker84 2 ай бұрын
This is absolutely true. I went from never having to use my emergency fund to having it wiped out when I had to replace my AC and do two expensive car repairs.
@Je.rone_
@Je.rone_ 2 жыл бұрын
This is a good question, great question really
@dingledangle265
@dingledangle265 2 жыл бұрын
money is fun.
@jessicalmcdaniel9878
@jessicalmcdaniel9878 2 жыл бұрын
The savings account being a put and take account is MY LIFE RIGHT NOW
@DandyFinance
@DandyFinance 2 жыл бұрын
Second part was the best, need to get into the mindset that every dollar you have needs to have it's own purpose.
@TNTN1977
@TNTN1977 2 жыл бұрын
I'm paranoid so I feel there's never enough
@SIP612
@SIP612 2 жыл бұрын
I really feel like 2021 is demanding bigger emergency funds. 🤕
@nicolefaring98
@nicolefaring98 2 жыл бұрын
I did 4K bare bones 2-3 months of expenses incase SHTF….booming on debt repayments now.
@andyvoice
@andyvoice Жыл бұрын
aheh...things have gotten worse
@markwhittaker6866
@markwhittaker6866 Жыл бұрын
@@andyvoice You got that right.
@Natashahoneypot
@Natashahoneypot Жыл бұрын
@@nicolefaring98 I have no idea what you just said 😁 what did you do again?
@Mavryck_Tha_Myghty
@Mavryck_Tha_Myghty Жыл бұрын
Wait until you see what happened in 2022.
@apoloestrada2908
@apoloestrada2908 Жыл бұрын
Between $20K-$100K will be enough for emergency funds as long as not spending those on any kind of entertainment or vacationing in other countries.
@joshuatree28
@joshuatree28 2 жыл бұрын
Good question by the caller, and good explanation. “Retirement” is just an option. Put your money to work, even the savings.
@jimroscovius
@jimroscovius 2 жыл бұрын
It's not an option. Retirement is something you have to have for your later years. Social Security is meant to be a supplement, not something to live on.
@ashedwards1311
@ashedwards1311 2 жыл бұрын
I love what he said about always giving 1,000 percent.
@Lantanana
@Lantanana 2 жыл бұрын
Dave, you just taught me a distinction I did not have yet. I have listened to you off and on for years, and never quite made that distinction in my head, about the difference between special spending and emergencies. I am going to make a change right now on how I categorize and spend my money. That helps a LOT. I am not naturally good with money and I have to mentally work on it all the time.
@knucleballfreedom
@knucleballfreedom 2 жыл бұрын
Where are all the likes? Agree 100%, I will do the same.
@zorasaphire
@zorasaphire 2 жыл бұрын
Dave is so right! Having a mission for your finances essential. I don't think I'll ever have it correct but I like to choose one main task to save for and Chase that until it's done!
@polardogXII
@polardogXII 2 жыл бұрын
I don't know how I just found this show but I love it already!
@shauleen
@shauleen 2 жыл бұрын
Lols welcome, some of the calls get pretty crazy...😂
@trancemonger4764
@trancemonger4764 2 жыл бұрын
Welcome in!
@DUECE12412
@DUECE12412 2 жыл бұрын
Welcome aboard! Pleased to have you
@mikebrownbassist802
@mikebrownbassist802 2 жыл бұрын
Welcome! You have just entered a whole new world! I have been following Dave for about seven years now. I had $130k in student debt and barely could breath. Today, I am debt free and I am building up my retirement account. Join the club, drink the cool-aid and get gazelle intense. Really happy for you!
@RaineyPowerTraining
@RaineyPowerTraining 2 жыл бұрын
Woohoo!
@officecrazy7
@officecrazy7 2 жыл бұрын
I love this stuff. Be aware. Have a plan. Have a purpose. It's not about wealth but about being able to decide. Thanks Dave!!!
@MrGWoodle
@MrGWoodle 2 жыл бұрын
Maybe in addition to the emergency fund you need a seed fund. Seeds will grow into a new car, bass boat, Christmas, Birthday, Holiday some new toy.
@ggervasio1
@ggervasio1 2 жыл бұрын
Love the term!
@macummings7818
@macummings7818 2 жыл бұрын
Love savings accounts - definitely do line item breakdowns for various savings pots 👍
@sezeef
@sezeef 2 жыл бұрын
I love this man! God bless him and his family
@dajonczy427
@dajonczy427 Ай бұрын
I had attorney advise me to go bankrupt. he said I know what best for you. I fired him.i don't believe in bankruptcy. Everyone was repaid. Thank you 😎
@pcardi412
@pcardi412 2 жыл бұрын
Great Question!!!! and Greater answer!!! Thanks!
@justint1181
@justint1181 2 жыл бұрын
Had my brother come visit us a few months ago. I let him drive my 2014 F150 for the week. He couldn’t get over how “smooth and quiet” it runs and how it’s in great shape. I told him simply, no deferred maintenance.
@patriciaguy5230
@patriciaguy5230 2 жыл бұрын
That’s a good question and I learned a lot from this podcast
@joe1192
@joe1192 2 жыл бұрын
Love you Dave!
@kevinrehberg8758
@kevinrehberg8758 2 жыл бұрын
So my EF is going to actually be an Emergency/Transitional fund..Putting away three years of benefits before I take my pensions fully to improve/upgrade my lifestyle.. The second and third years "of benefits" are going into mutual and index funds
@waynechernick3526
@waynechernick3526 2 жыл бұрын
I'm making myself get up for work every day. That's a new concept.
@tubeyv7325
@tubeyv7325 Жыл бұрын
@ Dave n Ramsey Show Team..Great analysis and great tips!🎉
@ShoppingwithRina
@ShoppingwithRina 2 жыл бұрын
I love ur advices always
@kenaddoh4693
@kenaddoh4693 2 жыл бұрын
Great call!
@manutd9049
@manutd9049 2 жыл бұрын
I always thought a strong one year emergency fund is always good to have if everything else is in order financially.
@Scott-got-caught
@Scott-got-caught 2 жыл бұрын
@Austin Duke piece of mind. Better to have more than you think you need rather than need and not have
@manutd9049
@manutd9049 2 жыл бұрын
@Austin Duke Fair enough.
@Scott-got-caught
@Scott-got-caught 2 жыл бұрын
@Austin Duke that's why you invest in liquid accounts. Duh?
@kiki11974
@kiki11974 2 жыл бұрын
@@Scott-got-caught amen!you can never have too much money
@LG123ABC
@LG123ABC 2 жыл бұрын
@Austin Duke FOMO can be a trap. Beware.
@thomascassidy1
@thomascassidy1 2 жыл бұрын
Ive been going about it as I don’t want my lifestyle to change much with my emergency fund (im planning for if I got laid off). So im saving for my rent/mortgage payments, food, spending cash, monthly memberships. I dont want my life to change much when an emergency happens
@ashablue78
@ashablue78 10 ай бұрын
This was the exact question I had too!!! Awesome!!
@jasonmoquin
@jasonmoquin 2 жыл бұрын
"You are not someone who mails it in"... The caller literally said that her performance is an issue there because she doesn't like the job. So, yeah, she's someone who does mail it in. People will tell you and show you who they are... believe them when they do.
@karinhansen4281
@karinhansen4281 2 жыл бұрын
Good information
@pizza6290
@pizza6290 2 жыл бұрын
I LOVE THE RAMSEY SHOW!!! :D
@mikeluka5225
@mikeluka5225 2 жыл бұрын
I think of it as a 3 accounts. Checking, slush, emergency. The slush should be way bigger than the emergency. It can be moved into the checking. The idea is the emergency fund is TRULY an emergency. And to Dave’s point as you make more and more money it’s hard to envision true emergencies you couldn’t cash flow or “borrow” from your slush fund
@Gus_Chiggins
@Gus_Chiggins 2 жыл бұрын
Ur moms a slush
@ricdiaz6153
@ricdiaz6153 4 ай бұрын
Elaborate, please
@Dab_Marino
@Dab_Marino 11 ай бұрын
The more you save for the monthly expenses, the better off you'll be when youre in the emergency phase. 🙌🤘
@Mike1-
@Mike1- Жыл бұрын
I needed to hear this
@millsathn
@millsathn 2 жыл бұрын
It’s easy to say what John says.. but really, it’s not like that if you’re in the position
@chriseden202
@chriseden202 2 жыл бұрын
He's no Dave, and tries so hard. So terrible. Lol
@JudePi-jx7yo
@JudePi-jx7yo 2 ай бұрын
1:90 is great point. I haven't ever used an emergency fund. A $2k cost is just absorbed in the monthly budget
@nishi2268
@nishi2268 2 жыл бұрын
Watching from Kingston Jamaica Thank you
@catherineogilvie616
@catherineogilvie616 2 жыл бұрын
Me too!
@n1k01k0
@n1k01k0 2 жыл бұрын
My savings account is don’t touch account.
@NoName-ru5xd
@NoName-ru5xd Жыл бұрын
I was behind Dave Ramsey 100%, right up to the point where he said a bass boat is not an emergency. How dare he!!!! Lol
@markwilson4690
@markwilson4690 Жыл бұрын
LMAOOOO! 🤣🤣🤣🤣🤣
@johnkirubai
@johnkirubai 2 жыл бұрын
Oh I love the integrity in this Show !!
@youcanquoteme2
@youcanquoteme2 Жыл бұрын
If you hear Dave say "bass boat", it's a good clip. 😂😂
@invisablehvman3073
@invisablehvman3073 2 жыл бұрын
I have a two year working capital fund, sounds excessive but my job is always in jeopardy. I have been let go because of corporate downsizing or merger at least five times. Since I am an older worker it seems I am the first to go. I have a high in demand skill set and have been able to make due with contract work during layoffs. Knowing you have two years, plus contract work allows you to look for the "right next job" and not take the first thing that comes along. Also, now that I am on medicare, we don't have to worry about health care insurance. One day I will just do contract work, but I do like having a six-figure job with a stable paycheck. Most firms will let me work out of the home so they often don't notice how old I am.
@mrpiceno
@mrpiceno Жыл бұрын
I love the part about the worth ethic! I always give my 100% no matter what.
@tonyyero7231
@tonyyero7231 2 жыл бұрын
Well Yeah! If u have money then it's not an emergency anymore! Especially now where everything u buy or consume is Unreasonable! Everything INFLATES except paychecks.
@justinballard7242
@justinballard7242 Жыл бұрын
I'll never understand how you can earn 160k and be in financial trouble
@susikinzki
@susikinzki Жыл бұрын
Bad management 😄
@RoyelNotRoyal
@RoyelNotRoyal Жыл бұрын
People don’t know how to manage their money
@deathinsight
@deathinsight 4 ай бұрын
Your statement is relative. I agree because I only make 100k. I'm sure there is someone else barely making it on 50k that could say the exact same thing to me making 100k. Lifestyle creep is real 😂
@sandramarten3495
@sandramarten3495 2 жыл бұрын
These people calling in with $160000 incomes !!! 😳
@amandafoster24
@amandafoster24 2 жыл бұрын
I love how she mentioned her nails👍🏼❤️🤗 priorities!!
@MariaInIowa
@MariaInIowa 2 жыл бұрын
I haven't listened to the whole thing yet, but if I'm job hunting, I'm at least getting my hair done. For interviews, but also for my confidence.
@djpuplex
@djpuplex 2 жыл бұрын
She hates her job join the club lady.
@BrendanEvan
@BrendanEvan 2 жыл бұрын
Ah yes welcome to jobs
@user-wq5ws1qs7x
@user-wq5ws1qs7x 2 жыл бұрын
I love mine!
@bradschmittling8118
@bradschmittling8118 2 жыл бұрын
Dr. D is the bomb
@skipperry63
@skipperry63 8 ай бұрын
Hahahaha! I need an emergency bass boat! I literally laughed out loud!
@stuartclubb4302
@stuartclubb4302 2 жыл бұрын
If the forced arbitrary shutdown of small business at the whim of some Governors has taught us anything, maybe one to two years of emergency fund may be needed.
@superblump87
@superblump87 2 жыл бұрын
Small businesses received quite a bit of stimulus cash.. Calm down.
@LG123ABC
@LG123ABC 2 жыл бұрын
Amen!
@LG123ABC
@LG123ABC 2 жыл бұрын
@@superblump87 Dave was not a fan.
@JackWorkz
@JackWorkz Жыл бұрын
@@superblump87 and it was nothing compared to being open for business, you probably dont own a business tho
@rustybell2722
@rustybell2722 2 жыл бұрын
Emergency Bass Boat purchase: When you live in a flood zone and you hear heavy storms are headed your way. Just pointing out.....
@yosefwolf704
@yosefwolf704 2 жыл бұрын
An overarching theme is "Being Mindful With Your Savings"
@janssensbaskoro
@janssensbaskoro Жыл бұрын
So glad I got a 10k emergency fund, the ac went down and its gonna take 2k to fix. Praise the lord 😅
@Jormanc
@Jormanc 2 жыл бұрын
Thank you brother!
@icelandic_mughal2223
@icelandic_mughal2223 2 жыл бұрын
3:25 , lol 😂
@OTOWN2STOCKTOWN
@OTOWN2STOCKTOWN 2 жыл бұрын
SOL
@MS-gt5zs
@MS-gt5zs 2 жыл бұрын
We just gonna act like they are not describing the “Ally Buckets” 😂
@jamisonsmith9761
@jamisonsmith9761 2 жыл бұрын
Houston Texas stand up
@waterheaterservices
@waterheaterservices 2 жыл бұрын
As much as possible
@logand1726
@logand1726 2 жыл бұрын
Good video. Didn’t answer the question however
@Heather-ko2lv
@Heather-ko2lv 2 жыл бұрын
I love that my savings account has buckets so I can dedicate a bucket to emergencies and then dedicate other buckets to other things.
@MR-hg4cm
@MR-hg4cm 2 жыл бұрын
Lol but at the current inflation rate you are loosing more every year than you realized smart people grow that money not sit on it and wait for inflation to eat It up
@kevinrehberg8758
@kevinrehberg8758 2 жыл бұрын
Do yourself a favor.. Instead of a "typical savings account".. look at the interest rates and see if you can do better with a CD Ladder..I get the concept of money that sits in the bank isn't getting the best opportunity, but a CD that gets 4-20 times the earning power, AND the interest payments are paid directly into savings has the higher interest rates empowerment with a huge degree of protection..So what if you do have to liquidate the CD..Usually the Early Withdrawal Penalties are a matter of months to a year of "interest earnings".. What if you had already had that CD for three years dribbling change into your savings account??..You still would have earned two years of interest.. even if you had to payback one year of interest....
@ryanthepianoman27
@ryanthepianoman27 2 жыл бұрын
Ahh so use use allly
@ryanthepianoman27
@ryanthepianoman27 2 жыл бұрын
@@kevinrehberg8758 that’s stupid advice just buy and index fund
@megalodon1726
@megalodon1726 2 жыл бұрын
The emergency fund is insurance, not an investment. Like any other insurance, it costs money. Add a bit to the emergency fund every year to deal with inflation. Money above the emergency fund is what goes into growth-seeking investments. For the emergency fund, safety is the priority, not growth.
@trevorlawrence310
@trevorlawrence310 2 жыл бұрын
as much as possible in emergency fund.
@henryanona1640
@henryanona1640 2 жыл бұрын
I think if it's about to flood, a boat purchase could be an emergency purchase
@jdnrotterdam2150
@jdnrotterdam2150 Жыл бұрын
One income and pay the bills gasoline and groceries account…. One savings for new car account.. one savings for vacation account…. One savings for safety account. One savings for future child account . And one easy/medium index account for your maybe early pension in future. Do it like this and you will be fine.
@nickzema4683
@nickzema4683 Жыл бұрын
Does it factor in obtaining unemployment benefits?
@SilentEire
@SilentEire Жыл бұрын
Sounds like Dave is saving to build a hospital one day. Fair play 🤝
@PhilipMarcYT
@PhilipMarcYT Жыл бұрын
Good question, but there's no answer to it because it's subjective.
@freedomworks3976
@freedomworks3976 Жыл бұрын
Put and take account is a savings account I like that
@trevorlawrence310
@trevorlawrence310 2 жыл бұрын
my exes are trainwrecks, all my friends moved away. I got a big nest egg tho!
@adipratapsinghaps
@adipratapsinghaps Ай бұрын
I have a rental property which I never put on rent. I am not going to pay it off. It has 2.7 million INR mortgage at 8.75%. And is worth 6 million INR. Plus, it won't pay me more than 15000 INR in rent per month. But I will still close my loan. I am 29 and totally don't need that property. I am selling it. And will be debt free once and for all. Luckily I don't have other debts.
@kzstaytrue1983
@kzstaytrue1983 2 жыл бұрын
How much should you keep in your checking account? Aside from having an emergency fund?
@jefffrye4361
@jefffrye4361 Жыл бұрын
I like having 2500 to 3000 in checking..just a personal preference as to what feels like a buffer for me.
@richcreager7877
@richcreager7877 Жыл бұрын
Bass boat might be an emergency if a flood comes lol
@curiouscat3384
@curiouscat3384 11 ай бұрын
I wish Dave would talk about this more because so many of his followers think they just need to save $1000 and then they're good to apply their money elsewhere. Every ANTICPATED but not monthly expense needs to be included in the budget. I forecast what future expenses will come up and when. I'll need new tires every 4 years. I expect inflation to increase my gas and grocery bills by some % every year. I'll probably spend $1000 per year for maintenance and repairs on my 20 yr old car. Kids tuition and property tax are paid once a year...etc. Then I prorate that amount into how much to save per month to be ready for those expenses. I have two savings accounts - one for emergencies and one for periodic expenses. That way I don't go screeching into December with a large tax bill looming that will wipe out the cash in checking account normally designated for routine living expenses. (or dip into emergency fund)
@stabilitypath4963
@stabilitypath4963 2 жыл бұрын
I recommend every household saves up 50k emergency fund before anything else!
@thunderspence8183
@thunderspence8183 2 жыл бұрын
I sold my laptop and phone for a total of 850! I'm getting somewhere!
@magamaga2403
@magamaga2403 7 ай бұрын
Step 7 in 4 months. Think I’ll wait a little while before becoming too giving. Still need to be better at budgeting.
@albertopazos6581
@albertopazos6581 Жыл бұрын
I have an 85 month emergency fund
@mikepawlikguitar
@mikepawlikguitar 2 жыл бұрын
Don't think I don't see that M1 MacBook Air over there 😜 yep I have one... And yep!! Am debt free and bought it CASHIOLA BABY!!
@sarssars-hm2ox
@sarssars-hm2ox 2 жыл бұрын
Sounds good more accounts 😐 with reasons 👍 for it
@trevorlawrence310
@trevorlawrence310 2 жыл бұрын
AMAP
@KElmerTinkersAcademy
@KElmerTinkersAcademy 2 жыл бұрын
A bass boat purchase is only an emergency once you find out your mother-in-law is coming to visit.
@lawv804
@lawv804 2 жыл бұрын
Where I live a boat can definitely be an emergency purchase. Southern Louisiana.
@dariusd1090
@dariusd1090 2 жыл бұрын
Dave... What if there is a zombie apocalypse?! The bass boat will be essential! 😂
@unnamedchannel1237
@unnamedchannel1237 2 жыл бұрын
You are assuming zombies can not swim
@nelsonnwamara1009
@nelsonnwamara1009 2 жыл бұрын
This show has really empowered me. All the way from Nigeria Thanks Dave
@MR-hg4cm
@MR-hg4cm 2 жыл бұрын
Quit scamming Americans
@tracywalker244
@tracywalker244 2 жыл бұрын
@John Sutula 😂🤣
@tracywalker244
@tracywalker244 2 жыл бұрын
Saying you’re from Nigeria is nothing to brag about
@therealnikrich
@therealnikrich Жыл бұрын
Put & take out & take no get a transition fund sinking fund love that
@jackcarraway4707
@jackcarraway4707 2 жыл бұрын
I'm single no kids active duty and have very little monthly expenses. On top of my head all I have for fixed bills are: $40 cell phone $30 car insurance $13 YT Premium $5 Peacock How much should my EF be in that scenario?
@alyssabird720
@alyssabird720 2 жыл бұрын
Save as much as you can! I'd say live on 10%-20% and save the rest!!
@eddieperez8111
@eddieperez8111 Жыл бұрын
Depends on where you’re at in your military career. You don’t need much of an emergency fund if your years away from military retirement age. And at worst case, if you got chaptered out for any reason, that’s like minimum six months to get your s*** together and scramble together some emergency savings money. So as far everything else, think about loading up your income into index funds. And see how much you can put into your TSP
@jackcarraway4707
@jackcarraway4707 Жыл бұрын
@@SnowyCountryChicken Live in the barracks, graduated debt free and my car was paid off years ago. I also Doordash as a side hustle when I'm off duty, making at least an extra $1k/month and that pays for gas itself.
@tienluong4729
@tienluong4729 5 ай бұрын
Ok: So you need to work for : 1. Emergency fun 2. 401k to retire 3. Your kids to go to college ( 1 kid maybe) 4.Vacation 5.buying a house I think I'll just die instead
@CrappyProducts
@CrappyProducts 2 жыл бұрын
I spend wayyy too many years with savings accounts doing nothing, such a shame, but this was what our parents told us to do: don't invest, it's risky. I wished I had built my portfolio 20 years ago
@pinkowbs
@pinkowbs 2 жыл бұрын
There's still time? How old are you?
@CrappyProducts
@CrappyProducts 2 жыл бұрын
@@pinkowbs 41
@pinkowbs
@pinkowbs 2 жыл бұрын
@@CrappyProducts you still have time and another 20 years to "retire". You got this✊🏽
@CrappyProducts
@CrappyProducts 2 жыл бұрын
@@pinkowbs absolutely, I will still be a millionaire, just wished I would have done it earlier
@steviejd5803
@steviejd5803 2 жыл бұрын
Great point made here by Dave. I have six months money saved up, and sometimes I’m tempted to put it into my S&P index fund. But then I hear Dave smacking my chops…..”the S&P index isn’t an emergency….are you dumber than a rock?’ Ok…soz Dave.
@Lilbit2215
@Lilbit2215 2 жыл бұрын
I still ignored it and put it in lol. Why wait when I could build wealth with that
@XORTION
@XORTION 2 жыл бұрын
Great time to put it in now
@derekrank4572
@derekrank4572 2 жыл бұрын
the emergency fund for people on disability is going to be universal basic income coming up soon
@DoctorSmartyPants
@DoctorSmartyPants 2 жыл бұрын
Yes, bare bones
@kzalaska4804
@kzalaska4804 Жыл бұрын
My father in law has always said that he is "saving for the future." He is in his eighties now and very reluctant to spend any of the substantial money that he has acquired because it is "for the future."
@mathisnotforthefaintofheart
@mathisnotforthefaintofheart 9 ай бұрын
So is he going to take all his money with him into his grave?
@twinfigtrees2994
@twinfigtrees2994 2 жыл бұрын
Ok, so how much?
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