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In this episode, we discuss the ins and outs of emergency funds and other short-term savings like house deposits etc. How much you need, where to keep it, balancing risk vs reward and more!
During the show, we cover:
- What is an emergency fund and why do you need one? (1:09)
- How much do you need in your emergency fund? (6:13)
- The many different types of emergency funds, Pat’s approach and how it works in practice (14:17)
- Is there any way to optimise this stuff? (25:01)
- Saving for a house; where should you keep the money? (28:42)
- Dave’s approach to emergency funds (32:07)
- Listener case study: “I feel like I’ve already over-extended on big ticket items, is it still possible to scale back and reach FI?” (38:57)
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