Emergency Funds 101: You’re Screwed If You Don’t Have One

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Information Emergency Funds 101: You’re Screwed If You Don’t Have One

Title	:	Emergency Funds 101: You’re Screwed If You Don’t Have One
Lasting	:	10.16
Date of publication	:
Views	:	113 rb

Weekly bassoon lessons HAHAHAHHAHAHAHAHAHHAHAHA
Comment from : @juanantonio5174

I've had an emergency fund before finding the "Ramsey Solution" which was not as much as it is now, but after doing the baby steps I've increased my emergency fund to about 5 months which now I've had for many many years now Not once have i had to dip into it, other than borrowing from it for a few days after a smoking deal on a piece of equipment that came up for a great price It is a weight off your shoulders having it I highly recommend it It's like having a spare tire and never using it, but it's there if needed Piece of mind !
Comment from : @carlkostrzewski7118

You mean to say that “most people” save 6 months of emergency expenses in 6 months? That can’t be right I’ve got 2 kids in diapers My money goes to Costco for that and formula
Comment from : @markbless419

my emergency fund is $50k
Comment from : @ggbogo935

I’m a single fireman with no dependents Life is good
Comment from : @brad4305

This guys lame
Comment from : @garysampson1310

Having a robust savings account is one of the biggest peace of mind exercises you can do My wife has excellent insurance, but we still ended up paying almost $3,000 out of pocket when my son was born Our house was also reevaluated by the city and our property taxes doubled, and the bill for the property taxes was due less than 1 month after the medical bills were duebrbrI was able to take money out of my cash account and pay off all those bills without a second thought and still have a lot left over What I do now is the interest I earn off of the cash account every year Which is about $$,500 I put towards another house payment and that eats directly into the principal According to the calculator that I'm using if I do this for the next 15 years I will have cut almost 5 years off of a mortgage
Comment from : @FIDEL_CASHFLOW_

these edits are fun ha
Comment from : @WartalesinSkyrim

This guy gives me a headache
Comment from : @IndellableHatesHandles

If you have working teenage kids, teach them to have that $1k fund in their savings account at all times It’s a really handy thing for younger people to have and if they are living with you, it’s pretty easily saved This starts them with the habit of having money in an account and not touching it
Comment from : @barnabusdoyle4930

My high yield savings is Bitcoin right now A little too risky for the long term but it worked harder than I did this last week
Comment from : @N8R_Quizzie

Emergency funds are definitely worth it I have right about 7 months expenses now and for me it would be great to see that at a year's worth expenses
Comment from : @kylegragg

Investments are the roots of financial security; the deeper they grow, the stronger your future will be"
Comment from : @JamesOliverr7s

Investments are the roots of financial security; the deeper they grow, the stronger your future will be"
Comment from : @JulianBenjamin3d

Recession! Crash! Inflation! It’s getting depressing I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation What stocks should I buy into as a newbie to safely grow my money
Comment from : @Mlanderos-t9e

Don’t be kicking on Jesus
Comment from : @tomcox5063

$5K to operate a household for a month?!! HOLY CRAP!! That amount operates MY household for at LEAST 18 months!!!
Comment from : @jasonrodgers9063

This guy is a Jew
Comment from : @tomson1755

Putting your emergency fund in a bank is a BAD IDEA!
Comment from : @geo_YT88

Yes, I have a regular emergency fund of 6months of expenses, but I also have a sinking fund specifically for my dogs instead of using pet insurance I know pet insurance can be a sensitive topic for many, but I’ve found that the costs, especially as my 3 dogs age, are too high for me Instead I keep my money and put it in a HYSA “sinking fund” earning interest Three weeks ago, my senior dog, who’s turning 17 next month, wandered behind/under my reclining sofa and got injured After an emergency vet visit ($422) and a regular follow-up with my vet ($188), the total came to $610 Thankfully, she’s okay, though I’m still a bit shaken I was able to cover the entire cost from my sinking fund (or “doggie emergency fund”), which felt like a big win In addition, I know one of my other dogs will need a dental procedure in about three months—a planned but still significant expense of approx 1K Again, the sinking fund will be there to cover it I’m not sure if this really counts as an emergency fund win, but it sure feels like one to me
Comment from : @Alexandra11090

As Dave says Sell so much stuff the kids think there next When paying off debt's
Comment from : @1129402

Hey guys, is it ok instead of an emergency found to take money off of my taxable investment account? I maxed out every tax deductible account available in my country
Comment from : @pietrorighetto1496

Why not keep just 1 month of expenses in checking and the other 5 months in a good HYSA Maybe invest anything after 9 months in brokerage
Comment from : @Aaron-ty6vz

4:42 🙋🏽‍♀️
Comment from : @Fer97TV

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @Donnafrank-k6e

Dude enough of the jokes too many Just share the information Thank you
Comment from : @Studioblues951

I am regretting not investing in stocks ever since but still grateful i kept money in the money market With about $200k maturing soon, i plan investing in the stock market What stocks should I look into as a newbie to safely grow my money?
Comment from : @ChloeMacy-je1nu

Just got your audible book Let's do this
Comment from : @TheDivergentLens

Im a single man with $20,000 saved in my emergency fund Still working on it😊
Comment from : @thundermaxx1273

Thanks for helping me now
Comment from : @JadeGiron-r4w

I’m sorry but I absolutely can not get behind only having $1000 as an emergency fund while paying off debt…$1000 isn’t going to come even close to covering the vast majority of emergencies If you do end up having an actual emergency it will definitely put you back in the debt cycle
Comment from : @Shoutinthewind

I really appreciate the jokes by you here and there especially talking about a serious topic Really enjoy by your videos 👍🏼
Comment from : @nurainijasni5837

My last emergency was a spark plug/ignition coil problem It was massively inconvenient but I had the money 😊
Comment from : @andrealuneau2050

love this guy always give legit advice
Comment from : @just4fun607

I love coleslaw😂
Comment from : @davidbrooks8809

I liked for the Coleslaw bit 😂😂😂
Comment from : @cjhoskinsiii3286

$1000 isnt an emergency fund $1000 is what you should have in checking at all times your emergency fund is completely separate
Comment from : @brandonkoeller7478

Worth the watch just for the Fantasy Team name: Sherlock Mahomes 😅
Comment from : @chadbailey7038

30k dollars in six months? Wut, I only spend around 9k dollars in six months
Comment from : @ecos889

Hey George , new to your channel Just subscribed 👍 good stuff
Comment from : @baddboo

Can an FSA for medical expenses be included in your emergency fund? If it covers the deductibles and out of pocket expenses for your medical emergencies
Comment from : @Savvynomad225

Last time I had to cover for an "emergency" was when my phone screen broke and got a flat tire within the same month (last month) Thankfully, I am on baby step 2 so I used my starter emergency fund to cover for both expenses Just refilled the SEF last week!
Comment from : @peaceoffibowers

working on growing my 4 month fund to 6 months soon, this year hopefully
Comment from : @RacleandRaHill

3:22 I feel like I really need to know what this very specific reference is
Comment from : @scrivyscriv

“Sherlock Mahones”, I’ll keep that in mind
Comment from : @PrJasonFerreiraMusic

I keep an emergency find in case my emergency fund goes to low
Comment from : @payroll970

Yup When my transmission went up and I was able to pay the 5k in cash it was a good feeling that I didn't have to put that on the card!brbrProblems don't seem that bad when you have money saved
Comment from : @BigJohnM

My water heater went out and I replaced it myself one trip to home depot later, came in just under 50000
Comment from : @philippopov3496

Hospital kept billing an old insurance company I used It was for the deliver $1,200 I had $1,200 in cash back rewards so I used thatbrbrHad 4 months of my emergency fund Now with my federal tax return, I am at 6
Comment from : @Overlord277

1000 on a new ball bearrings for my car
Comment from : @Hashtagcris

-20 Degree cold run with blizzard conditions when the furnace went out Limped along on space heaters until they could come to replace Easiest $3,800 I ever spent, annoying but didn't hurt!
Comment from : @juliahoyt6734

I don't think I've had a single emergency, like, ever I suppose I've had large expenses here and there, but I could always cover them with excess cash flow in a month or two (I'd put it on a credit card and probably wind up paying a $30-100 finance charge) I've had a few large medical expenses, but those came out of the HSA, which I suppose is an emergency fund unto itself brbrIt's so calm that I've actually got my emergency fund in a CD getting 54 APY for the next year I can cancel the CD without it costing any principal balance, but I doubt I'll even need to do that I can just pay the expense outright or carry it on a credit card for a month or two
Comment from : @bvoyelr

Last year was an emergency year for me Washing machine packed up, husbands car packed up a week before a camping vacation, part of my roof fell in, a window broke and needed replacing, my daughter had a car accident (she was ok but her car was written off) and my father became seriously Ill I had an emergency fund and made it through with only a small amount going on credit I am now trying to rebuild my fund fast
Comment from : @snapdragon2441

This is a 3-4 minute video at best, no need for pseudo comedy - you’re not a comedian! I so miss the old Dave videos, straight to the point, great explanation Ramsey is slowly going downhill as they are trying to find succession personnel for Dave
Comment from : @KonaBean1

Great Content
Comment from : @wandasworldmoneyjourney5788

Dave Ramsey described an emergency fund as 'defence' And he described investments as 'offence' I love that analogy
Comment from : @Tehui1974

"An emergency fund turns emergency into an inconvenience"
Comment from : @dummgelauft

My favorite piece of trivia regarding Murphy's law: the person who originated the law was a Captain in the US Air Force under Colonel Stapp, working on developing seat belts They tested be seat belt designs using a rocket sled
Comment from : @ke7eha

It feels so good to have an emergency fund The main thing I can foresee is an expensive car repair some day I have saved enough for just about any big car repair and it is in an online high-yield savings account I wish I had learned how to handle money earlier in my life Too soon old, too late smart as my mother used to say
Comment from : @RamonaAnne

My last (financial) emergency was having a motorcycle accident I had to cover a small medical bill (€875,-) and the repairs on my bike (almost €1000,-) I was so thankful for my emergency fund at that time Otherwise I don't k ow how I would've managed
Comment from : @luc_de_hoogh

My last emergency was when the wind knocked down a tree and took out my power linebrIt was only a $300 fix until the power company found that my electrical system wasn't up to code and they couldn't turn the power back on until I had it fixedbr$4,000 later, I was up to code 👍
Comment from : @silkroad1201

I was saving to take my grandkids to Disneyland for years But just as the CDs I got became mature life fell to crap My husband is now disabled and can't work Trying to figure out how to get disability but in the meantime all the Disneyland dreams have gone away I'm going to sell my house that will hopefully pay off debt and have enough equity to buy a mobile home or something cheaper Ugh I guess you could lie to yourself and say you're saving for something fun but it's really your emergency fund!
Comment from : @jennwakely2092

stop editing like a goober and get to the damn point
Comment from : @gammafunction

I enjoyed this-good fun good infoThanks
Comment from : @terencejamesmusic4126

What are the website addresses for opening a high yield saving account?
Comment from : @lorif9563

Last month I had an infected tooth, which needed extraction I was able to cover the cost of the appointments, antibiotics, and extraction without dipping into the emergency fund :)
Comment from : @angelanathan2249

I am saving money up for an emergency fund in my vase
Comment from : @adamlanore6865

George, I love your channel! You are so relatablewatching you is always time well spent! Go Fund Yourself - classic
Comment from : @lv4366

“Cash flowed vacations” 🏖️ 🍹 ⛷️ ✈️
Comment from : @yourfavnurseb9699

Is a 75-year emergency fund excessive? Lol
Comment from : @jpollar

My last emergency was a car repair It cost a bit over $1500 I paid from the monthly budget by adjusting some other expenses Yes, I could have used my emergency fund if I hadn't had enough in the monthly budget to cover it
Comment from : @franhenslee4490

Our last emergency was our old furnace finally going out last year Tried to repair it but they didn’t even make the parts for it anymore 😅 so we had no choice but to get a new one $6500! We were able to pay for half with savings and the rest unfortunately had to go onto a credit card Now I think a good emergency fund is at least 5k, stuff is just too expensive anymore to be covered with 1k
Comment from : @Brea890

I’m $120,000 in debt I used my emergency fund to pay off all credit cards and my 2020 Camry brbrNow, I’m attacking the student loan but don’t have an emergency fund, so I’m scared Very scared!
Comment from : @AnnaSzabo

Do I still need to save 3 months of income if I live off of only 1/3 of my income?
Comment from : @pcubed664

Idk man Amazon can deliver the wig in a day I can’t say the same for a saving account with no checking account
Comment from : @marathomas4807

Have 12 month locked Never taken a single dollar from it, since 1995
Comment from : @andersnielsen6044

If you do have to ask that question You do NOT have enough
Comment from : @andersnielsen6044

2023 was the year of unplanned expenses I won't quite call them emergencies (though one did involve an ER visit) because I had money saved for each category's potential problems: car needed $1500 of work because parts wore out, $2k needed to replace floor and repairs due to water, $500 ER vet bill because the dog needed staples I had the money available for each, without the emergency fund, but still hurts the wallet
Comment from : @Erin-rg3dw