Daily Juice – Debt vs Emergency Reserves
Welcome to the Daily Juice Show, where we discuss just one “ingredient” of the complex money topics you face.
In previous episodes, we talked about establishing an emergency fund, or what I call a Curveball account. Its critical to your overall financial success.
I was listening to a podcast the other day and the host brought a good point: many Americans struggle with debt and the idea of finding extra money to put in their rainy-day fund. It’s just not realistic for some and he used the analogy of “Chicken and the egg”. I like this analogy, but the question shouldn’t be what comes first. It should be: How can I work on paying off my debt and build my Curveball savings at the same time? That’s what I call a real financial plan.
Watch this week’s episode for ways to think about how you manage this challenge for yourself.
Until next time, remember: It’s your money, and your future wealth, just one sip at a time.