Section 2: Building Your Financial Foundation
Stress is the thief of peace, but a good night's sleep is the guardian of your health and happiness.
This is money you have quick access to, such as cash, checkbook cushions, and/or a savings account, that you can easily access should you need the money immediately.
(*Checkbook cushion is a set dollar amount you commit to never going under in your checking account. It safeguards against accidental overdrafts and can also help cover some unexpected emergency expenses.)
Examples: (Choose what is best for you.)
$1,000 per Dave Ramsey’s Baby Steps
$2,000 per Minority Mindset C.L.I.M.B. to Wealth
Enough to cover your most expensive deductible per The Money Guy’s FOO
1 month’s worth of expenses
Note: Prioritize other investments before considering precious metals or other assets in your cash emergency fund. Refer to the Investing Hierarchy Chart (page 17).
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