MoneyWise


Your Financial Lifeboat (Emergency Fund)

February 16, 2019

There are two types of people in the world: Those whose finances stay safely afloat, and those who sink slowly but surely into debt.  Surprisingly, the difference has little to do with how much they earn.  On this MoneyWise, Rob West and Steve Moore show you how to properly inflate your Financial Lifeboat – better known as your Emergency Fund – so you’re better prepared for life’s unexpected storms.  Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you recently began to notice fundraising letters have different return addresses on the letters from the same organization, sould that concern you? 
  • Is it wise to consider dollar-cost averaging when it comes to your investing?  
  • What do you do when both spouses aren’t good about paying bills and keeping track of their financial life?
  • If you're 67 and debt free, are working part time but your current income doesn’t meet your monthly expenses, how can you better manage your money?
  • If you're retirement age and have over $1M in the stock market, should you cash that stock in and invest in bonds instead.

At the end of the program, Steve mentioned the book, Simplifying the Money Conversation, by Ron Blue. You’ll find it on our website at MoneyWise.org.  While you’re there, you can connect with a MoneyWise Coach or access our other books and many free helpful resources.  You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air.  And if you'd like to help, just go to the website and click the Donate tab at the top of the page.