EVERYTHING you need to know about EMERGENCY FUNDS | how to prepare for a recession

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Do YOU need an emergency fund? How much should you have saved in an emergency fund? How would you even go about saving up an emergency fund? We're answering all of your savings questions (+ more) in today's video about preparing your finances for a recession and saving up your emergency fund ASAP!
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CHAPTERS:
0:00 emergency funds 101
3:28 how much should be in your EF?
6:12 steps to build your emergency fund
10:02 boost your savings
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Views expressed in this video are my opinion and should not be interpreted as professional financial advice. I am not a certified financial advisor.
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Пікірлер: 7

@shateramcnair436 Жыл бұрын

Thanks Lexa! I’m on my way to building up my emergency fund to cover three months of rent and bills, using the 50/30/20 method! I started putting 30% of my income in an Ally savings account in Aug and next month I will reach my three month emergency fund goal. I’m excited to move on to my next long-term financial goal which is a new laptop and a week in Mexico sometime next year! Thanks for being a part of my learning journey :) you’re so inspiring and down to earth!

@TheAvocadoToastBudget Жыл бұрын

You're incredible!! And Ally just boosted their interest rate on savings accounts to 2.75%! So hopefully that will give you even more of a little boost. I'm so so glad you're here!

@Krystalyn. Жыл бұрын

The word recession just scares me. Any money after bills I’m putting to emergency fund for remainder of year and halting my sinking funds.

@TheAvocadoToastBudget Жыл бұрын

Absolutely. I'm on the line between Gen Z and Millennials. So I was pretty young the last recession. But I still remember the stress around the adults in my life. My plan has been to focus on saving right now as well!