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I've been saying this for over a decade. People still don't get it.

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Synopsis

Welcome to another valuable episode of the Building Your Money Machine Show! In today’s episode, I’m diving into a critical topic that I’ve been passionate about for over a decade, but that many still overlook—the importance of having a sufficiently sized emergency fund. In this episode, I reveal why you should aim for a 9 to 18 months emergency fund. Through my personal experiences and professional insights, I'll show you how to protect your wealth effectively and what could happen if you don’t have this vital safety net in place.We’ll explore the best places to keep your emergency fund for maximum security and liquidity, such as high yield savings accounts and money market accounts. Plus, I’ll address common misconceptions and why a three to six months fund is just not enough in today's volatile economic environment.I’ll provide a practical guide on how to start building your emergency fund, from calculating your essential monthly expenses to automating your savings and reassessing your needs regu