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Finance Flash Go! Episode #20: Where Does Your Emergency Fund Go?

This episode of the Finance Flash Go! podcast shares tips for keeping your emergency fund safe.

Listen to the full episode and subscribe here!

Your emergency fund is a stash of money that represents 3-6 months of your average expenses. Your emergency fund is money that you could need at any time. For an emergency. Its even in the name. So, invest it somewhere safe. This fund is kept in a safe place, like a high yield savings account, so that it can be accessed and used easily when it is needed, in an emergency. Also, this emergency fund will keep you from needing to take out more debt or extend credit for things like car repairs, a broken furnace, or a pandemic that results in decreased income for an extended time period.

So, this really becomes one of, if not the, top financial priority for you.

So, having an emergency fund is like a life preserver for the crazy things that no one can predict. Too many physicians found this out the hard way with COVID. As a final point, make an emergency fund a priority.

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Finance Flash Go! Episode #44: Understanding Growth vs. Value Stocks

I really hope that you all enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to [email protected].

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    Jordan Frey MD, a plastic surgeon in Buffalo, NY, is one of the fastest-growing physician finance bloggers in the world. See how he went from financially clueless to increasing his net worth by $1M in 1 year and how you can do the same! Feel free to send Jordan a message at [email protected].

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