How Much Should REALLY Be In Our Emergency Fund?

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Пікірлер: 385
@TheRamseyShow
@TheRamseyShow 3 жыл бұрын
Know where your money’s going when you budget with EveryDollar. Start budgeting for free: bit.ly/3jByPKA
@lucindabutler1100
@lucindabutler1100 11 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 3 жыл бұрын
Wife and I paid off our home yesterday and I can’t put into words the feeling right now!
@sami2865
@sami2865 3 жыл бұрын
Wow good for you, I’m nearly there, cannot wait to feel what your feeling 👌👌
@NeyJ
@NeyJ 3 жыл бұрын
Congratulations!!! Its only upwards from here!
@enricopallazzo3244
@enricopallazzo3244 3 жыл бұрын
Congrats!
@daystar73
@daystar73 3 жыл бұрын
Bravo.. 👍💯👏
@timange124
@timange124 3 жыл бұрын
Congrats!
@moneybee
@moneybee 3 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.
@harryl7946
@harryl7946 3 жыл бұрын
Former employer always said that money is just a tool to do what needs to be done.
@moneybee
@moneybee 3 жыл бұрын
@Joshua Johnson 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 3 жыл бұрын
Dave is right. With a good plan, inflation is nothing to worry about.
@eugeneabreut5208
@eugeneabreut5208 3 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
@B1GJOHNSTUD
@B1GJOHNSTUD 3 жыл бұрын
@@eugeneabreut5208 facts!!
@darinherrick9224
@darinherrick9224 3 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 3 жыл бұрын
😂 Ive had a job like that!
@inhawaii4941
@inhawaii4941 3 жыл бұрын
Same 😂
@Woke365
@Woke365 3 жыл бұрын
Do door dash and Uber. Fire your boss.
@Lcshell
@Lcshell 10 ай бұрын
Same! And Almost five yrs later I’m soooo glad to have “escaped”
@girliedog
@girliedog 3 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 3 жыл бұрын
Might as well invest the rest.
@jgood005
@jgood005 3 жыл бұрын
Very smart! I do similar - have an emergency fund, then a car repair fund & car maintenance fund alongside it.
@mzeye
@mzeye 2 жыл бұрын
🥰
@mzeye
@mzeye 2 жыл бұрын
How muchis good,
@chrism3198
@chrism3198 6 ай бұрын
Smart considering what happened during Covid. 3-6 months doesn't make sense anymore but it's better than nothing
@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 2 жыл бұрын
😂😂😂😂😂 Very true indeed.
@GTRrocker84
@GTRrocker84 9 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.
@jessicalmcdaniel9878
@jessicalmcdaniel9878 3 жыл бұрын
The savings account being a put and take account is MY LIFE RIGHT NOW
@lonerista4778
@lonerista4778 3 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 3 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 3 жыл бұрын
@@beyourbestselfeveryday391 💕
@cindyhardin3301
@cindyhardin3301 3 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 !!!!!!
@DandyFinance
@DandyFinance 3 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.
@ashedwards1311
@ashedwards1311 3 жыл бұрын
I love what he said about always giving 1,000 percent.
@Je.rone_
@Je.rone_ 3 жыл бұрын
This is a good question, great question really
@dingledangle265
@dingledangle265 3 жыл бұрын
money is fun.
@Lantanana
@Lantanana 3 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 3 жыл бұрын
Where are all the likes? Agree 100%, I will do the same.
@justint1181
@justint1181 3 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.
@TNTN1977
@TNTN1977 3 жыл бұрын
I'm paranoid so I feel there's never enough
@JudePi-jx7yo
@JudePi-jx7yo 9 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
@MrGWoodle
@MrGWoodle 3 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.
@gigi_enItalie
@gigi_enItalie 3 жыл бұрын
Love the term!
@HectorSnipes
@HectorSnipes 3 ай бұрын
I believe investors should prioritize putting their cash to work instead of letting it sit in banks. This quarter, we'll likely see greater market diversification. I plan to invest approximately $350K of my savings in stocks for the coming year, with the aim of generating significant returns and potentially millions by 2025.
@lolitashaniel2342
@lolitashaniel2342 3 ай бұрын
Given that risk levels are currently very high, it might be wise to exercise patience and wait for conditions to improve. Alternatively, you could seek guidance from a qualified financial advisor to develop a sound strategy.
@grego6278
@grego6278 3 ай бұрын
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@crystalcassandra5597
@crystalcassandra5597 3 ай бұрын
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@grego6278
@grego6278 3 ай бұрын
Rebecca Noblett Roberts is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@BateserJoanne
@BateserJoanne 3 ай бұрын
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
@SIP612
@SIP612 3 жыл бұрын
I really feel like 2021 is demanding bigger emergency funds. 🤕
@nicolefaring98
@nicolefaring98 3 жыл бұрын
I did 4K bare bones 2-3 months of expenses incase SHTF….booming on debt repayments now.
@andyvoice
@andyvoice 2 жыл бұрын
aheh...things have gotten worse
@markwhittaker6866
@markwhittaker6866 2 жыл бұрын
@@andyvoice You got that right.
@Natashahoneypot
@Natashahoneypot 2 жыл бұрын
@@nicolefaring98 I have no idea what you just said 😁 what did you do again?
@Mavryck_Tha_Myghty
@Mavryck_Tha_Myghty 2 жыл бұрын
Wait until you see what happened in 2022.
@joshuatree28
@joshuatree28 3 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 3 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.
@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!!!
@NNKNotary
@NNKNotary 16 сағат бұрын
I love what he had to say about - do not lower your dignity. Hold your head high and give 1000% even to a job you don't like.
@polardogXII
@polardogXII 3 жыл бұрын
I don't know how I just found this show but I love it already!
@shauleen
@shauleen 3 жыл бұрын
Lols welcome, some of the calls get pretty crazy...😂
@trancemonger4764
@trancemonger4764 3 жыл бұрын
Welcome in!
@DUECE12412
@DUECE12412 3 жыл бұрын
Welcome aboard! Pleased to have you
@mikebrownbassist802
@mikebrownbassist802 3 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 3 жыл бұрын
Woohoo!
@H4DSteel4
@H4DSteel4 2 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! 🤣🤣🤣🤣🤣
@kevinrehberg8758
@kevinrehberg8758 3 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
@zorasaphire
@zorasaphire 3 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!
@thomascassidy1
@thomascassidy1 3 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
@Chet_24
@Chet_24 10 ай бұрын
For me, having enough to tell your boss to shove it and be ok for a year is what i want in an emergency fund
@jasonmoquin
@jasonmoquin 3 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.
@waynechernick3526
@waynechernick3526 3 жыл бұрын
I'm making myself get up for work every day. That's a new concept.
@sezeef
@sezeef 3 жыл бұрын
I love this man! God bless him and his family
@NNKNotary
@NNKNotary 16 сағат бұрын
I think what he is saying is... you need to do a risk assessment to figure out if you need 3 or 6... and come up with an amount you are comfortable with.
@Dab_Marino
@Dab_Marino Жыл бұрын
The more you save for the monthly expenses, the better off you'll be when youre in the emergency phase. 🙌🤘
@mikeluka5225
@mikeluka5225 3 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 3 жыл бұрын
Ur moms a slush
@ricdiaz6153
@ricdiaz6153 11 ай бұрын
Elaborate, please
@manutd9049
@manutd9049 3 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 3 жыл бұрын
@Austin Duke piece of mind. Better to have more than you think you need rather than need and not have
@manutd9049
@manutd9049 3 жыл бұрын
@Austin Duke Fair enough.
@Scott-got-caught
@Scott-got-caught 3 жыл бұрын
@Austin Duke that's why you invest in liquid accounts. Duh?
@kiki11974
@kiki11974 3 жыл бұрын
@@Scott-got-caught amen!you can never have too much money
@LG123ABC
@LG123ABC 3 жыл бұрын
@Austin Duke FOMO can be a trap. Beware.
@millsathn
@millsathn 3 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 3 жыл бұрын
He's no Dave, and tries so hard. So terrible. Lol
@RubyOliverm5l
@RubyOliverm5l 2 ай бұрын
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
@SofiaJames9H
@SofiaJames9H 2 ай бұрын
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
@SebastianNoah5e
@SebastianNoah5e 2 ай бұрын
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@JulianBenjamin3d
@JulianBenjamin3d 2 ай бұрын
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@SebastianNoah5e
@SebastianNoah5e 2 ай бұрын
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
@JulianBenjamin3d
@JulianBenjamin3d 2 ай бұрын
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
@patriciaguy5230
@patriciaguy5230 3 жыл бұрын
That’s a good question and I learned a lot from this podcast
@macummings7818
@macummings7818 3 жыл бұрын
Love savings accounts - definitely do line item breakdowns for various savings pots 👍
@tonyyero7231
@tonyyero7231 3 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.
@n1k01k0
@n1k01k0 3 жыл бұрын
My savings account is don’t touch account.
@Heather-ko2lv
@Heather-ko2lv 3 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 3 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 3 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 3 жыл бұрын
Ahh so use use allly
@ryanthepianoman27
@ryanthepianoman27 3 жыл бұрын
@@kevinrehberg8758 that’s stupid advice just buy and index fund
@megalodon1726
@megalodon1726 3 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.
@jackcarraway4707
@jackcarraway4707 3 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 2 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 2 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.
@invisablehvman3073
@invisablehvman3073 3 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.
@ashablue78
@ashablue78 Жыл бұрын
This was the exact question I had too!!! Awesome!!
@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.
@Robert-yf1by
@Robert-yf1by 4 ай бұрын
20k to 100k is a pretty big range. I think that's part of what the caller was talking about also.
@tubeyv7325
@tubeyv7325 Жыл бұрын
@ Dave n Ramsey Show Team..Great analysis and great tips!🎉
@sandramarten3495
@sandramarten3495 2 жыл бұрын
These people calling in with $160000 incomes !!! 😳
@joe1192
@joe1192 3 жыл бұрын
Love you Dave!
@dajonczy427
@dajonczy427 8 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 😎
@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 😅
@rustybell2722
@rustybell2722 3 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.....
@kenaddoh4693
@kenaddoh4693 3 жыл бұрын
Great call!
@danj9519
@danj9519 2 жыл бұрын
My emergency fund is for job loss and needs etc. Like appliances breaking and auto repairs. Is that the right way?
@susikinzki
@susikinzki 2 жыл бұрын
Yes . Everything that can happen unpredictable. If you still can afford to pay for it with your other money , do it this way . It’s really for emergencies
@yosefwolf704
@yosefwolf704 3 жыл бұрын
An overarching theme is "Being Mindful With Your Savings"
@pcardi412
@pcardi412 3 жыл бұрын
Great Question!!!! and Greater answer!!! Thanks!
@CrappyProducts
@CrappyProducts 3 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 3 жыл бұрын
There's still time? How old are you?
@CrappyProducts
@CrappyProducts 3 жыл бұрын
@@pinkowbs 41
@pinkowbs
@pinkowbs 3 жыл бұрын
@@CrappyProducts you still have time and another 20 years to "retire". You got this✊🏽
@CrappyProducts
@CrappyProducts 3 жыл бұрын
@@pinkowbs absolutely, I will still be a millionaire, just wished I would have done it earlier
@mrpiceno
@mrpiceno Жыл бұрын
I love the part about the worth ethic! I always give my 100% no matter what.
@amandafoster24
@amandafoster24 3 жыл бұрын
I love how she mentioned her nails👍🏼❤️🤗 priorities!!
@MariaInIowa
@MariaInIowa 3 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.
@steviejd5803
@steviejd5803 3 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 3 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
@dabd8175
@dabd8175 3 жыл бұрын
Wheres AO?
@ErrorPagenotFound-ig1cy
@ErrorPagenotFound-ig1cy 3 жыл бұрын
I think the other scrawny kid with the eye glasses replaced him
@user-jy7yw5kw3w
@user-jy7yw5kw3w 3 жыл бұрын
He has his own show he's been focusing on.
@nocigar7730
@nocigar7730 3 жыл бұрын
@@ErrorPagenotFound-ig1cy he is no longer a ramsey personality
@My.Eden2.0
@My.Eden2.0 3 жыл бұрын
@@ErrorPagenotFound-ig1cy you’re so wrong for saying that🤣
@gmarie3053
@gmarie3053 3 жыл бұрын
AO and John is my face combination of personalities, other than with Dave of course
@dariusd1090
@dariusd1090 3 жыл бұрын
Dave... What if there is a zombie apocalypse?! The bass boat will be essential! 😂
@unnamedchannel1237
@unnamedchannel1237 3 жыл бұрын
You are assuming zombies can not swim
@nishi2268
@nishi2268 3 жыл бұрын
Watching from Kingston Jamaica Thank you
@catherineogilvie616
@catherineogilvie616 3 жыл бұрын
Me too!
@pizza6290
@pizza6290 3 жыл бұрын
I LOVE THE RAMSEY SHOW!!! :D
@Mike1-
@Mike1- Жыл бұрын
I needed to hear this
@youcanquoteme2
@youcanquoteme2 2 жыл бұрын
If you hear Dave say "bass boat", it's a good clip. 😂😂
@skipperry63
@skipperry63 Жыл бұрын
Hahahaha! I need an emergency bass boat! I literally laughed out loud!
@KElmerTinkersAcademy
@KElmerTinkersAcademy 3 жыл бұрын
A bass boat purchase is only an emergency once you find out your mother-in-law is coming to visit.
@lawv804
@lawv804 3 жыл бұрын
Where I live a boat can definitely be an emergency purchase. Southern Louisiana.
@stabilitypath4963
@stabilitypath4963 2 жыл бұрын
I recommend every household saves up 50k emergency fund before anything else!
@laurenadams6704
@laurenadams6704 5 ай бұрын
30 second answer stretched to 7mins
@waelitoz
@waelitoz 5 ай бұрын
Is the following correct? An emergency fund is any fund required to keep the 4 walls up minimally: shelter, food, utilities and transportation. If you’re faced with a situation that interferes with you having these four walls, you got an emergency.
@johnkirubai
@johnkirubai 3 жыл бұрын
Oh I love the integrity in this Show !!
@commonenglishmistakes4360
@commonenglishmistakes4360 3 ай бұрын
I don't get why they say 3 to 6 months. Such a big difference between the two. Who should save for 3 months, who should save for 4, who 5 and who 6?
@derekrank4572
@derekrank4572 3 жыл бұрын
the emergency fund for people on disability is going to be universal basic income coming up soon
@logand1726
@logand1726 3 жыл бұрын
Good video. Didn’t answer the question however
@amaisterrena
@amaisterrena 3 ай бұрын
I summed housing + insurance + groceries + gas + tuition + utilities (including Netflix and Spotify) and multiplied it by six months then added 10% for things I might be missing. So if I get fired I can get six months of a decent life without touching my investments but without any luxuries. Each will have a number depending on you own minimal expenses, but I don't think you should do anything less than this.
@rinainlondon8
@rinainlondon8 3 жыл бұрын
I love ur advices always
@MS-gt5zs
@MS-gt5zs 3 жыл бұрын
We just gonna act like they are not describing the “Ally Buckets” 😂
@mrniceguystocktalk9648
@mrniceguystocktalk9648 3 жыл бұрын
AMC about to squeeze to the moon 🚀🚀
@r.3559
@r.3559 3 жыл бұрын
How high? Stoked 🙈🙈🙈
@mrniceguystocktalk9648
@mrniceguystocktalk9648 3 жыл бұрын
@@r.3559 100k a share
@JasonGroom
@JasonGroom 5 ай бұрын
Dave says he doesn't use credit cards for the rewards because it hurts people, but he is fine touting the fact he bought real estate for pennies on the dollar in 2008
@bradschmittling8118
@bradschmittling8118 3 жыл бұрын
Dr. D is the bomb
@trevorlawrence310
@trevorlawrence310 3 жыл бұрын
as much as possible in emergency fund.
@stuartclubb4302
@stuartclubb4302 3 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 3 жыл бұрын
Small businesses received quite a bit of stimulus cash.. Calm down.
@LG123ABC
@LG123ABC 3 жыл бұрын
Amen!
@LG123ABC
@LG123ABC 3 жыл бұрын
@@superblump87 Dave was not a fan.
@Liimpy
@Liimpy 2 жыл бұрын
@@superblump87 and it was nothing compared to being open for business, you probably dont own a business tho
@djpuplex
@djpuplex 3 жыл бұрын
She hates her job join the club lady.
@BrendanEvan
@BrendanEvan 3 жыл бұрын
Ah yes welcome to jobs
@user-wq5ws1qs7x
@user-wq5ws1qs7x 3 жыл бұрын
I love mine!
@icelandic_mughal2223
@icelandic_mughal2223 3 жыл бұрын
3:25 , lol 😂
@OTOWN2STOCKTOWN
@OTOWN2STOCKTOWN 3 жыл бұрын
SOL
@justinballard7242
@justinballard7242 2 жыл бұрын
I'll never understand how you can earn 160k and be in financial trouble
@susikinzki
@susikinzki 2 жыл бұрын
Bad management 😄
@RoyelNotRoyal
@RoyelNotRoyal Жыл бұрын
People don’t know how to manage their money
@InBobWeTrust
@InBobWeTrust 11 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 😂
@jsimp4050
@jsimp4050 5 ай бұрын
I think people buy more than they can afford. Most of the time they buy a home they can’t afford. My brother makes over 200k. Always needs to borrow money. They have a HUGE home, 4 kids, 4 dogs. Kids are in private school, everyone has their own car and it goes on and on. Most of these expenses are not needs. They’re wants. A lot of people can’t tell the difference.
@karinhansen4281
@karinhansen4281 3 жыл бұрын
Good information
@SilentEire
@SilentEire Жыл бұрын
Sounds like Dave is saving to build a hospital one day. Fair play 🤝
@albertopazos6581
@albertopazos6581 2 жыл бұрын
I have an 85 month emergency fund
@trevorlawrence310
@trevorlawrence310 3 жыл бұрын
my exes are trainwrecks, all my friends moved away. I got a big nest egg tho!
@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 Жыл бұрын
So is he going to take all his money with him into his grave?
@jdnrotterdam2150
@jdnrotterdam2150 2 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.
@henryanona1640
@henryanona1640 3 жыл бұрын
I think if it's about to flood, a boat purchase could be an emergency purchase
@jamisonsmith9761
@jamisonsmith9761 3 жыл бұрын
Houston Texas stand up
@PhilipMarcYT
@PhilipMarcYT 2 жыл бұрын
Good question, but there's no answer to it because it's subjective.
@drunclecookie216
@drunclecookie216 6 ай бұрын
for me it's $10,000 for 3 months, $20,000 for 6 months. I don't know how people get by without one. Last year I had to replace both my central air units, one of my furnaces, both of my hot water heaters, and replace a refridgerator all totalling about $16,000. This year I had to get a sink hole filled in that was forming under my garage ($400), get 3 big limbs trimmed off a tree in my back yard that are over my roof and one is actually touching the roof of my garage ($2200), and I need new gutters (to be determined after I get the tree trimmed).
@thunderspence8183
@thunderspence8183 2 жыл бұрын
I sold my laptop and phone for a total of 850! I'm getting somewhere!
@adipratapsinghaps
@adipratapsinghaps 8 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.
@nickzema4683
@nickzema4683 2 жыл бұрын
Does it factor in obtaining unemployment benefits?
@nelsonnwamara1009
@nelsonnwamara1009 3 жыл бұрын
This show has really empowered me. All the way from Nigeria Thanks Dave
@MR-hg4cm
@MR-hg4cm 3 жыл бұрын
Quit scamming Americans
@tracywalker244
@tracywalker244 3 жыл бұрын
@John Sutula 😂🤣
@tracywalker244
@tracywalker244 3 жыл бұрын
Saying you’re from Nigeria is nothing to brag about
@freedomworks3976
@freedomworks3976 2 жыл бұрын
Put and take account is a savings account I like that
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