Emergency Fund Essentials: What is an Emergency Fund? Why should I have one? What are some strategies to getting one started? An emergency fund is a dedicated pool of savings set aside to cover unexpected expenses, such as medical bills, urgent car repairs, or temporary loss of income. In financial planning, it acts as a safety net, helping you avoid high-interest credit card debt when life throws surprises your way. Having an emergency fund established and funded provides peace of mind, financial stability, and the flexibility to handle emergencies without derailing your long-term financial goals. The industry standard is 3 to 6 months’ worth of essential living expenses in a highly accessible, low-risk account. ________________________________________________________________________________________________ 5 quick tips for starting and managing your Emergency Fund: 1.) Set Clear Savings Goals: Calculate 3 to 6 months worth of essential expenses as a target. 2.) Automate Contributions: Set automatic transfers to your emergency savings each payday. 3.) Use a Separate Account: Keep emergency funds in a dedicated high-yield savings account to avoid any temptation. I like a High Yield Savings accounts like Ally Bank or Synchrony Bank both currently offering 3.5%+ with no minimum balance and no fees. Ally Bank’s 'Savings Buckets" feature lets you divide one savings account into up to 30 virtual “buckets,” each dedicated to a specific goal—like an emergency fund, travel, or a new car—without needing multiple accounts. Your money still earns interest as one balance, but the buckets help you stay organized and track progress toward each goal. 4.) Save Incrementally: Start small if necessary and gradually increase your savings amount over time. Start with $50 per pay period. Once you realize that $50 per period isn’t lowering your standard of living, then gradually increase to $75, $100, etc. until you hit your 3-6 month target. 5.) Define “Emergency”: Establish clear rules about when funds can be accessed to prevent misuse.

Please wish a very happy birthday to our very own @Matt Wedan!! Appreciate ya coach 💪

Bonus points if you share the first things you’d spend it on 💸 I’ll save my answer for the end…it’s not on the list 😉

Something I learned this week that I wanted to share: logging all my trades really helps me handle losses. I had a couple losses in a row and was feeling a little bummed. After I finished logging my trades, I looked back at the past couple weeks and at the calculated profit ratio for all my trades. When I saw my profit ratio was still above 2:1 and my account was still in the positive I was reminded that losing trades is part of the strategy and I’m still on track. It really helped me look at the bigger picture and reset my mindset!

Thank you so much Kyle! I'm going to see where I can take this one!