Financial Wellness Show - Improve The Health And Wealth Of Your Money

Did you know the cheapest and safest insurance policy for your financial plan is not an actual insurance policy? In our previous episode we heard from Kisha. She was a listener who reached out to us for help. In just a few short months she paid off three payday loans and had money in savings. Two things I took away from her testimony: 1) She never had an emergency fund before 2) Said she never knew what an emergency fund was I take it for granted that everyone understands what the term “Emergency Fund” stands for. Kisha’s success story pointed out that we needed an episode to further discuss this very important piece of anyone’s financial plan. Today, Coach Bob joins us to define what Emergency Funds are, when they should be used and what Emergency Funds - or Emergency Savings - should not be used for. An Emergency Fund is a savings account, separate from other accounts The sole purpose of an Emergency Fund is to pay for expenses that are not in your budget   Examples of emergency expenses are: Unexpected car