Simple Tips to Support Yourself: How much money do I need in my emergency fund?

A Fresh Story, season 10

This episode answers the question: How much money do I need in my emergency fund?

We chatted with Janice Berner, a CPA and comprehensive financial planner, about the vital role emergency savings play in building financial security. Janice shared practical advice on why an emergency fund is essential to navigate unexpected challenges like job loss, medical expenses, or divorce. She explained that the ideal amount for an emergency fund varies based on factors like job stability and personal needs, and she emphasized the importance of prioritizing this savings goal before tackling other financial objectives.

Janice also provided actionable tips for managing emergency savings effectively. She recommended keeping these funds in a separate account to avoid accidental spending and setting up automatic monthly transfers to make saving a consistent habit. Additionally, she encouraged exploring high-yield savings accounts to maximize interest earnings on your emergency fund. Whether you're starting from scratch or enhancing your financial foundation, Janice’s insights are a must-listen for anyone looking to safeguard their future.

You can learn more about Janice Berner on her Fresh Starts Profile: https://www.freshstartsregistry.com/resourceguide/janice-berner