6 - Emergency Funds 101

🎙️ Beyond the Budget – Episode 6: Emergency Funds 101

Duration: 10–12 minutes Host: Greg, Legacy Financial Coaching

💥 Episode Overview

Life happens—cars break down, medical bills show up uninvited, and your A/C might go out right in the middle of summer. In this episode, we’re talking all about emergency funds—what they are, why they matter, how much to save, and where to keep yours.

Whether you’re just starting your financial journey or well on your way, an emergency fund is your safety net. Don’t wait until disaster strikes to get prepared.

🔑 What You’ll Learn

✅ What qualifies as a true emergency ✅ How much you should save (starter fund vs. fully funded) ✅ Where to park your emergency savings ✅ How to decide when to actually use your emergency fund ✅ The 3 key questions to ask before touching your emergency stash

🛠️ Practical Steps

1. Start with $1,000 – your “starter fund” to keep you out of debt during emergencies.

2. Build up to 3–6 months of living expenses depending on your situation.

3. Keep it accessible but separate – a high-yield savings account is your best bet.

4. Don’t confuse it with other savings goals – true emergencies only!

📌 Ask Yourself Before Using Your Emergency Fund:

• Is it unexpected?

• Is it necessary?

• Is it urgent?

If the answer to all 3 is yes, you’ve got a green light.

📲 Resources & Links

• 🎯 EveryDollar Budgeting App – Free and premium options available Get $10 Off EveryDollar Premium

• 📈 Want personalized help building your emergency fund or crafting a debt payoff plan? Connect with me at https://calendly.com/legacyfinancialcoach/no-cost-first-session

• Nearly 60% of Americans Can't Cover a $1000 Emergency

🏁 Final Thoughts

Whether you’re setting aside your first $100 or you’re ready to tackle a fully funded emergency reserve, the most important step is to start now. Your future self will thank you.

Next week, we’re diving into debt payoff strategies—so if you’ve been feeling stuck, overwhelmed, or unsure how to tackle your balances, you won’t want to miss it.

📣 Don’t forget to subscribe, leave a review, and share this episode with a friend who needs to hear it.

🎙️ See you next time on Beyond the Budget!

Be Free

Greg

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