164. How Much Should You Have In Your Disaster Fund?

We've all heard the financial experts tell us, "You need 3-6 months living/business expenses set aside."

While I don't disagree with this advice, there is more to the picture.

For starters, based on your current budget, how much would 3-6 months be?

In today's show, learn step-by-step how to determine what your 3-6 month fund might look like as well as how things would look if there were an actual disaster.

There is no better example than I can think of what a "disaster" could look like from a global standpoint than Covid-19. While this pandemic put a lot of fit pros out of business, a minority actual came out ahead.

If there is one thing we are guaranteed in life, even according to scripture, it's that we will have trouble. Nobody can escape it.

Remember the 5Ps? Proper planning prevents poor performance. Learn how to get yourself into a position that when the next challenge comes, at least financially you'll have much less stress.

You'll also discover what building up your reserves looks like as well as how to handle it if you are married.

Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!

Listen and grow!

Your Financial Coach,

Billy

P.S. If you or someone you know is looking for a plan to dial in your finances and achieve some financial freedom book a short call with me here!