No kidding, water heater just went out, new one installation was 2250, the emergency fund came in clutch. This is the first thing you must do people before you get heavy into investing. Trust me.
depends on your life circumstances, if you're single, no kids/pets, car then its totally fine to start investing directly and instead rely on credit to pay for unexpected expenses and just skip investing next month
I have a year's worth of living expenses as my emergency fund, because why not? The security it gives me is priceless and HYSAs still pay out decently.
I would also have a small cash emergency fund. People in my state had no power or cell service for days after the hurricane. You have to be prepared for unexpected events. I enjoy your content.😊
I raised $75k and Matthew D Heck is to be thanked. I got my self my dream car just last weekend, My journey with him started after my best friend came back from New York and saw me suffering in debt then told me about him and how to change my life through him. Mr Matthew is the kind of person one needs in his or her life! I got a home, a good business, and a beautiful daughter. Note!:: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!
I cannot stress how important is this Over the last 6 months we had like 5k in unaccounted expenses which included health costs /car maintenance/ pet medicine and emergency travel Thankfully everything I was able to cover thanks to my emergency fund . I would also suggest adding 100-200$ to the budget for home and car maintenance every month so you know if something comes up it is already budgeted and you can cash flow it rather than even using the Emergency fund especially if you have an old car like I do
First thing, before I even start the video, I love the braids. I’m not trying to be creepy. I have my emergency and sinking funds all in the same account. I keep it separate on a piece of paper. I upped the total amount 3% a year for inflation.
Murphy month 01/25: Car Repairs, Garage Door Repairs and unexpected college expenses but the budget and emergency fund holding strong and no debt added!
I have an EF best thing I've ever done in my life. I have at least 6 months of liquid cash in case I get laid off tomorrow I know I will ok for at least 6 months and a bit longer of I just spend on the basics ie. my 4 walls, rent, food, utilities and transportation.
I currently have my high yield emergency savings with PayPal as it is at 4.10% right now and all of my extra side hustle money goes to my PayPal so I just immediately transfer to the savings. I’m just about to reach my first $100 saved from purely side hustles. I was previously using all my extra money I made and spent it. But I’ve been focused on saving and getting rid of my debt 💸
Thanks for the great thoughts. What are your thoughts on tucking short-term money away in an ETF like SGOV or BOXX? This help me from chasing interest rates and opening new bank accounts.
Mine is 10k by the end of the year! 😊 Single renter no pets/ dependants. Trying to save up this 10k so that I'm comfortable in any situation before I get myself a pet or do anything else! My yearly budget says if I don't have any hickups I should hit 10k by October!
im keeping my EF to a minimum (1k euros, just completed it today tbh, yaaay) and have a bunch of sinking funds to minimize the chance of having to use it - like dog fund, health fund, etc. We also have a pretty good unemployment system where I live, we're renting, and have no car. I'd rather start paying off my monutaine of a student loan
Thanks for the video. As for Mint, I switched a while ago. I pay my bill yearly now and it has resulted in a $640 a year savings on just my phone. Pretty crazy.
Emergency funds are important, but I don’t think they are the first things that you should start saving for. More important is to have just general savings. With some general money in savings, you can use it as you need it. That will be frequently as you’re just starting out. A few examples are covering the remainder of your rent so that you don’t incur a late fee, taking advantage of a huge sale on a necessity, or being able to take advantage of opportunities that are presented to you instead of missing out. It’s that that separates you from living paycheck to paycheck, not the emergency fund. Once you have some money set aside that you can use when you need some cushion then you can start your emergency fund, which you would only touch in an actual emergency.
No kidding, water heater just went out, new one installation was 2250, the emergency fund came in clutch. This is the first thing you must do people before you get heavy into investing. Trust me.
depends on your life circumstances, if you're single, no kids/pets, car then its totally fine to start investing directly and instead rely on credit to pay for unexpected expenses and just skip investing next month
I'm so proud of myself, I'm a single woman living alone and I've done £3000 in my emergency fund xx
Amazing!! I'm proud of you too!!
Well done 💪
I have a year's worth of living expenses as my emergency fund, because why not? The security it gives me is priceless and HYSAs still pay out decently.
same. 12 months makes me feel great
It truly is the FU fund at that point! No matter what life throws at you, you're still golden with 12 months saved up
It is liberating having that one year funded.
I would also have a small cash emergency fund. People in my state had no power or cell service for days after the hurricane. You have to be prepared for unexpected events. I enjoy your content.😊
Do yourself a favor if you’re young, start a HSA. It will save you down the road with medical expenses! Look into it!
$75k biweekly changed my mindset and behavior, my goals, my family and l've to say this video has inspired me a lot!!!
I'm feeling motivated could you share some details about the biweekly topic you brought up?
I raised $75k and Matthew D Heck is to be thanked. I got my self my dream car just last weekend, My journey with him started after my best friend came back from New York and saw me suffering in debt then told me about him and how to change my life through him. Mr Matthew is the kind of person one needs in his or her life! I got a home, a good business, and a beautiful daughter. Note!:: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!
Oh yeah! Thanks, been looking on way to get his contact. I’m happy i came across this now … how can I reach him
Wow I know him too Matthew Heck is a remarkable individual whom has brought immense positivity and inspiration into my life
Can't share much here. I'd suggest you research him further on the web.
I cannot stress how important is this
Over the last 6 months we had like 5k in unaccounted expenses which included health costs /car maintenance/ pet medicine and emergency travel
Thankfully everything I was able to cover thanks to my emergency fund .
I would also suggest adding 100-200$ to the budget for home and car maintenance every month so you know if something comes up it is already budgeted and you can cash flow it rather than even using the Emergency fund especially if you have an old car like I do
First thing, before I even start the video, I love the braids. I’m not trying to be creepy. I have my emergency and sinking funds all in the same account. I keep it separate on a piece of paper. I upped the total amount 3% a year for inflation.
Thank you!! Great strategy!
Hi Leila awesome video about emergency funds my came in handy last month for a medical bill also I like to say ur hair looks awesome
Can I please ask one question
I’m doing a savings challenge to build my EF. Great tips in this video.
Murphy month 01/25: Car Repairs, Garage Door Repairs and unexpected college expenses but the budget and emergency fund holding strong and no debt added!
This may be my fave video so far. I would love one on how you set up your sinking funds on Marcus.
Could you plz do a video on brokerage account? Many people do not know how or where to start. Thank you
Great advice 😊❤😊
I have an EF best thing I've ever done in my life. I have at least 6 months of liquid cash in case I get laid off tomorrow I know I will ok for at least 6 months and a bit longer of I just spend on the basics ie. my 4 walls, rent, food, utilities and transportation.
Great video Leila!! Thanks for sharing!❤
Wow didn’t recognize you with the hairstyle 💇♀️; awesome!!
Great video last yr we had barley anythijg saved and now in high yield saving we have almost 18k
Great video! I will definitely be checking out the Marcus HYSA.
The braids 😍
Great advice Leila!
I currently have my high yield emergency savings with PayPal as it is at 4.10% right now and all of my extra side hustle money goes to my PayPal so I just immediately transfer to the savings. I’m just about to reach my first $100 saved from purely side hustles. I was previously using all my extra money I made and spent it. But I’ve been focused on saving and getting rid of my debt 💸
Hey pretty lady. Great video as usual.
Thank you!
Thanks for the great thoughts. What are your thoughts on tucking short-term money away in an ETF like SGOV or BOXX? This help me from chasing interest rates and opening new bank accounts.
My goal is 20k by end of this year in my EF. Why 20K? I'm a home owner, single income, single mother of a teen , and have type 2 diabetes.GREAT VIDEO❤
Mine is 10k by the end of the year! 😊 Single renter no pets/ dependants. Trying to save up this 10k so that I'm comfortable in any situation before I get myself a pet or do anything else! My yearly budget says if I don't have any hickups I should hit 10k by October!
im keeping my EF to a minimum (1k euros, just completed it today tbh, yaaay) and have a bunch of sinking funds to minimize the chance of having to use it - like dog fund, health fund, etc. We also have a pretty good unemployment system where I live, we're renting, and have no car. I'd rather start paying off my monutaine of a student loan
Love it!! Sinking funds plus an emergency are the best!!
Shouldn’t hoard money in savings if you have high interest debt, your interest will outpace your earnings
YAY Leila!
Nice braids
Thank you 😊
@@PersonalFinancewithLeila of course 🥂😉
Thanks for the video. As for Mint, I switched a while ago. I pay my bill yearly now and it has resulted in a $640 a year savings on just my phone. Pretty crazy.
Emergency funds are important, but I don’t think they are the first things that you should start saving for. More important is to have just general savings.
With some general money in savings, you can use it as you need it. That will be frequently as you’re just starting out.
A few examples are covering the remainder of your rent so that you don’t incur a late fee, taking advantage of a huge sale on a necessity, or being able to take advantage of opportunities that are presented to you instead of missing out. It’s that that separates you from living paycheck to paycheck, not the emergency fund.
Once you have some money set aside that you can use when you need some cushion then you can start your emergency fund, which you would only touch in an actual emergency.
🩷🩷🩷
Can someone provide a dollar amount that should be in the emergency fund? Are we talking $5000 or more than that?
Did you watch the video??? 🤦♀️
@@PersonalFinancewithLeila😂😂
@@PersonalFinancewithLeila Yes, I just saw it.