In this week’s episode we are looking at emergency funds and why I don’t believe emergency funds work for people. The phrases “emergency fund” and “rainy day fund” historically have a very negative attachment that can leave people struggling to spend it even when they need to.
We are going to explore what you should be setting up instead.
Why Emergency Funds Don’t Work
In this episode:
- What does the phrase “emergency fund” actually mean
- Setting up pots and giving every pound a purpose
- Every decision we make is driven by pain or pleasure
- Why motivation towards pleasure is more sustainable than coming away from pain
- Creating a positive connection to money with the language that we use
Book in a complimentary call to discuss how financial coaching can help you move from financial overwhelm to confidence and control.