Today on the Finance Flash Go! podcast, I’m gonna tell you how you should invest your emergency fund!
Keep your emergency fund (or any pile of money you need in the short term, like 5ish years) in a safe place, like a high yield savings or money market account, so that it can be accessed and used easily when it is needed, in an emergency.
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.
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. Make an emergency fund a priority and make keeping it safe a habit. Don’t chase performance with it.
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