Today we continue our dance through the UK Personal Finance Flow Chart, which is serving as our map for building a kind of Financial Operating System – Everything you need to think about in the right order, from getting started with budgeting to getting things in order for those left behind after you’ve gone.
Last week we went deep into Budgeting, and today we want to talk about the Emergency fund. Might not sound the most gripping of subjects, but it IS important.
Season 25 – Finance OS
- Introduction
- Budgeting
- Emergency fund
Everything You Need To KNOW- An E-Fund is part of the foundation.
- Two parts to building an E-fund
- Starter E-Fund – About one month’s essential expenses or £1000 whichever is higher.
- Full E-Fund – anywhere from 3-12 months of essential expenses.
- E-Fund should be segregated.
Everything You Need To DO
- Build a starter emergency fund.
- Keep it accessible.
- Complete your full emergency fund once you have paid off your short-term debt.
- Focus.
- If you dip in, pay it back.
- Pension enrolment
- Paying off expensive debts
- Completing the foundation of insurance
- Goals – Part 1
- Goals – Part 2
- Approaching retirement
- At retirement
- Retirement early years – The danger zone
- Retirement reviews
- Later life
- Question and answer session
At the end of the season we’d like to tie things off with a Q&A session, answering the key questions that you ask throughout. hello@meaningfulmoney.tv SUBJECT LINE: Season 25 Question or similar. We’ll sort them and try to answer as many as we can, but likely we’ll pull out themes and deal with them. If the outline we’ve gone over today raises any questions, get them in now – we can also answer them as we go along. If we get tons of Qs we can always do two Q&A sessions.
