Despite what you might assume, building a “safety cushion” of 5-10K just to have in case “something bad happens” is counterproductive for anyone looking to get into business. This is especially true if an unwillingness to part with this lump sum prevents you from taking advantage of a golden opportunity. You’re much more likely to succeed as an entrepreneur if you can light a fire under your ass, and the comfort of a safety net isn’t doing you any favors in that regard.
As always, we don’t advocate being reckless with your money, but this episode covers in detail why we’re against clinging to a petty emergency fund. Other topics include proper money mindset and investment red flags.
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Easier Accounting
