Welcome To this week's personal finance guide on how to build an emergency fund savings account. We will also look at some simple and practical money saving tips and strategies that work well to you meeting your financial goals.
Lately, I have been talking a lot about the many ways you can take charge of your finances, make more money, saving, multiplying money but and a lot more about the need to have an emergency fund – but 'I don't have an emergency fund of my own'.... so I have decided to put my money where my moth is and start this emergency savings challenge in which I am setting myself to save $10,000 (a whole ten thousand dollars) in 12 months.
I hope you like the video and that you will join me as I embark on this Money Saving Challenge... Use the timestamps below to navigate through the video's chapters.
00:00 Emergency Savings NICKNAMES.
00:24 Introduction.
01:17 One Savings Account Isn't Enough.
02:16 How Much Should You Save For an Emergency Fund.
02:48 You Need A Budget.
03:50 Method #1 - Calculating The Amount You Need For An Emergency Fund.
05:44 Method #2 - How To Calculate The Emergency Savings Fund Amount.
06:10 Setting SMART Financial Goals.
06:50 When To Use & Re-build The Emergency Savings.
07:23 My Financial Goal (The Savings Challenge).
07:42 Money Saving Tips & Strategies That Work.
08:12 LifeStyle Inflation - The Reason We Don't Save Enough.
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XOXO
Samantha
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