LEVEL 2 - Post 2 – Emergency Fund
What is it?, think of it as your first line of Financial Protection, similar to insurance on your car, this is a form of insurance on your daily expenses.
Before you start anything else… you need a buffer.
👉 Target/ : 4–7 months of basic expenses, kept in a seperate Savings account - not your regular account.
This isn’t savings.
👉 This is protection.
Unexpected expenses will happen.This is what keeps you stable when they do.
👇 Action: Calculate your monthly essentials, Multiply by 4–7 months.
Please Comment below:
“I know my number” once you are done.
NOTE: I know that this may seem completely unrealistic at first. You may be thinking that there is no way I can save this. Don't worry, you can and I will show you how starting in the next post/step.
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LEVEL 2 - Post 2 – Emergency Fund
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