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“Who in their right mind has $1,000 just sitting in a savings account!?” That’s what I thought when I first started Baby Step 1– back in the Dave Ramsey days– when I had $0 in savings.
Fast forward to today: I’m bringing you this episode all about emergency funds and why you probably need more than $1k. And good news… I have $20k in savings now.
Let me educate you all about why you need an emergency fund to begin with, how much to keep in it (hint: it’s personal to you and your situation), where the heck to keep it, and more!
In this episode, we chat about:
How much you should have in your emergency fund
Hoarding cash in an emergency fund + breaking scarcity mindsets
The importance of having a sufficient emergency fund for your lifestyle
What to do if you feel guilt around spending your emergency fund money – even when it’s actually an emergency + more
MENTIONED IN THE EPISODE:
The Fed - Dealing with Unexpected ExpensesFederal Reserve Board
WHAT FINANCIAL TRAUMA IS, SIGNS YOU MAY BE EXPERIENCING IT + HOW TO RECOVER FROM PAST MONEY WOUNDS
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SHOW INFORMATION:
A Sunny Side Up Life Podcast is a show for women who are ready to live an abundant life full of freedom + positivity. Sami Womack, nationally recognized money expert and finance coach guides listeners toward breaking free from survival mode, gaining financial freedom, staying motivated, and focusing on what matters most.
CREDITS:
Podcast production: Weir Digital Marketing
Research: Sami Womack + Vee Weir
Editing: Joseph Bogumill
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WHO IS YOUR PODCAST HOST?
Sami Womack is the brains behind A Sunny Side Up Life. Her weekly podcast has been downloaded over 250,000 times, and her story has been featured on YNAB, Debt.com, The Purpose Show with Allie Casazza, and The His & Her Money Show. When she’s not downing caramel coffee or homeschooling her daughters, she’s creating content, collaborating with finance/minimalist organizations, and inspiring women all over the world to live an intentional life.
She began this journey with her high school sweetheart, Daniel, and a debt price tag of $490,000. They both took control of their family’s finances by downsizing, budgeting, and changing habits. From this experience, A Sunny Side Up Life was born.
Today, Sami owns this business helping women get through dark times and experience the life-altering magic of intentional living.
She offers a jump start into budgeting a FREE 5-Day Challenge + a personalized experience with 1:1 Budget Coaching.
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Opinions are the creators alone. Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice. Read our full affiliate disclaimer here.
