Understanding Financial Health: Prioritizing Wants and Building Emergency Funds

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Episode 2817:

Philip Dancy's insightful pieces on distinguishing "wants" from "needs" and the importance of emergency funds provide practical advice for financial health. By understanding and prioritizing true needs, you can effectively manage your budget and savings, ensuring you’re prepared for unexpected expenses while still enjoying life’s pleasures.

Read along with the original article(s) here: https://dancywithmoney.com/blog/prioritizing-wants-vs-needs & https://dancywithmoney.com/blog/how-to-start-an-emergency-fund

Quotes to ponder:

"A 'want' is an item or experience that brings you a level of satisfaction that you feel you can’t live without...but you really can!"

"By taking on unnecessary debt, there is a big chance you may fall into the debt cycle."

"It took me almost two years to get my emergency savings to 6 months."

Episode references:

EconoMe Conference: https://www.economeconference.com

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