I’m all about learning new things financially. Can anyone share with me in the comments techniques on how you gradually save for an emergency fund? I’ll read on & TIA
Every paycheque set aside an amount into your savings that will eventually equal your goal E-fund amount in your goal time.
Jessie said:
Every paycheque set aside an amount into your savings that will eventually equal your goal E-fund amount in your goal time.
Interesting thank you
Best way we (my wife and I) have found is to measure our free cash flow every month (add up income, subtract all expenses, what’s left is free cash flow). We now know how much free cash flow needs to be left behind every ‘normal’ or ‘average’ month. From that, we will set aside some money into our emergency fund and use the rest either towards next month or on discretionary spending or all of it into the fund.
Lintbook is a super simple app that helps with keeping Free Cash Flow in focus.
All the best!