Having a little extra money saved to cover any unexpected expenses will not only help you out in a pinch, it will give you some peace of mind. Before you learn to invest, you’ll want to save money for your emergency fund. Here’s my advice… http://bit.ly/2upIQ6Y

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20 COMMENTS

  1. I'm currently well I'm currently working on my emergency fund but it's a separate savings account and praise pretty good not too much but I can't take chances at life right now so I am saving an emergency fund but I'm also putting money aside for my stock investment

  2. Hey Phil, I really appreciate your videos.
    I have never heard of making your emergency fund do double duty, (serving as insurance AND as an investment). It seems like it could work if the homework is done ahead of time.
    What do you recommend I do with my mutual funds in preparation for the financial crisis that seems to be just over the horizon? I fear that pulling out into US Dollars and hunkering down until some stocks fall giving a wide margin of safety could backfire as the dollar could equally go to pot as the stocks in my mutual funds may. Thanks for your thoughts.

  3. I have about 3 months expenses in the Barclays dream account. This is an online bank account currently giving a rate of 1.2%, but every 6 months of consistent deposit and not withdrawing you get a bonus (I think an extra 50% of whatever your interest has been). Not as good as 15% returns in the market, but I'm just getting started and everything seems overpriced right now.

  4. great advice made simple,,, keep it up, Phil.
    Phil, am from west Africa Ghana for that matter, how do I look out for companies with the opportunity to invest, or other companies in African to invest my emergency fun…

  5. So that's a no for index tracking? This whole channel seems to against the idea of index tracking. Is there not space for both in one's investment portfolio? ie, both rule1 and etf/unit trusts?

  6. I have the emergency fund, got some extra money but no idea where to invest. Just don't want to do a bad move, what do you suggest? Getting 10-20% returns seems great, but what investments are giving those returns?

  7. Right now, I've got 3 months of expenses in savings. My job situation is a little loose right now so it is nice to have it on hand and ready in case more layoffs sweep through my department.

  8. I don't have an emergency fund just yet. But I'm on day 7 of the 14 day financial challenge. Also, attending your 3 day training starting tomorrow in Vancouver. Can't wait to see you again after the Tony Robbins event, Phil.

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