A Foundational Step To Getting Your Personal Finances In Order

Hello fellow financial freedom seeker,

If you follow personal finance on social media you have probably heard of Dave Ramsey - an American radio host and personal finance expert.

He preaches his 7 baby steps to improve your personal finances. The first of these is to save $1,000 in a starter emergency fund.

An emergency fund is crucial, because it covers any unexpected expenses that may arise. This means you don’t have to go into debt to finance them.

I also think an emergency fund enables you to not have to sacrifice other financial goals in order to cover unexpected costs. So it’s a great thing to build!

Your One Simple Step this week is therefore to…

Open A Savings Account

When considering who to open your account with, there are key features of savings accounts you need to consider, like the interest rate, minimum contributions, maximum amount in it, fixed terms etc. Read this for top tips to consider when picking the best account for you.

Til next week,

Pernia | Your Finance Travel Buddy