It's time to build an emergency fund

Hey!

It’s the 4th of April, 2024. You’re looking at this email, wondering why you signed up for this. But then you remember, Oh! It’s from that JC guy on Instagram that talks about financial peace and building wealth! And then you keep reading 👇

DEFINITION
What do you consider an “emergency”?

• No it’s not that last minute trip with the girlies to Cancun. And no, it’s not that brand new couch from Pottery Barn because your current couch feels a little saggy.

• A financial emergency is life’s unexpected expenses, like car repairs, hospital visits and even job loss. Having an emergency fund gives you the power to hand over cash to cover the big and small surprises that come your way.

PRACTICAL ADVICE
Where should I keep my emergency fund?

• A simple savings account connected to your checking account

• A money market account that comes with a debit card or check-writing privileges

• An online bank that pays a higher interest rate and where you can still transfer money quickly and directly to your checking account

• NOT in a shoebox in your sock drawer

• NOT in an investment account

HELPFUL RESOURCES
I keep my emergency fund in CIT Bank

• I use CIT bank to hold my emergency fund because it’s also a high-yield savings account! I earn 5.05% interest on my savings there.

OUR COMMUNITY
What are your questions? Or share a win!

• Reply to this email with any personal finance question you have, or share with me any wins in your life! (I’ll respond to your questions anonymously in future emails)