The F.U.N.D. Method: How to Save for Emergencies (Like a Grown Up)

Video Description

Welcome to another exciting episode of the Building Your Money Machine Show. Today's episode is absolutely crucial if the thought of a medical bill, job loss, or major car repair sends a wave of panic through you. We're talking about building and managing your emergency fund using my F.U.N.D. method-because life happens and you need to be prepared for it. Ever wondered how much is enough for an emergency fund? Or what expenses should it cover? I'll be answering these questions and more. Plus, I'll share actionable tips on how you can start nurturing your fund right now, including jumpstarting it with a comfort fund and automating your savings. By following this framework, you're not just saving money; you're securing your financial future and giving yourself the freedom to pursue your goals without the constant worry of financial ruin from unexpected events. IN TODAY'S EPISODE, I DISCUSS: - Why an emergency fund is essential for your financial stability - The emotional and financial benefits of having a peace of mind fund - A detailed walkthrough of my F.U.N.D. framework - How to calculate your ideal emergency fund based on your unique circumstances - Actionable steps to jumpstart and automate your emergency savings - Protecting and designating your fund to avoid unnecessary spending and maintain liquidity ORDER MY NEW USA TODAY BESTSELLING BOOK: Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! Got to: YourMoneyMachineBook.com The key to building the life you desire and deserve is to build your Money Machine-a powerful system designed to generate income that's no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind. Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine. TAKE THE FINANCIAL FREEDOM QUIZ: Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com ------------------------------------------------------------------- ★ WHO IS MEL ABRAHAM ★ ------------------------------------------------------------------- I'm a seasoned CPA turned entrepreneurial innovator and money mentor. I am the mind behind the USA Today bestseller, Building Your Money Machine: How To Get Your Money To Work Harder For You Than You Did For It!. As the founder of The Affluence Blueprint™, The Legacy Factor™, and Thoughtpreneur™ Academy, Mel has dedicated his career to empowering individuals and entrepreneurs to transform their financial destinies and craft lives of choice, not chance. The inception of Mel's groundbreaking principles was profoundly personal as they were born out being a single full-time dad and not wanting to compromise that relationship in the name of success. The power of these principles became even more evident when he was faced with a life-threatening health diagnosis which forced him to confront his mortality and the fragility of life. This pivotal moment, coupled with the economic turmoil of the pandemic, galvanized him to distill his financial wisdom into strategies accessible to all. His books and teachings offer not just hope but real tools for building lasting wealth and impact. Now it's your turn Meet Mel at http://melabraham.com/ Cheers, Mel ==== Time Stamps ==== 00:00 Prepare an emergency fund for financial stability. 03:13 Emergency funds provide essential financial security. 06:34 Prepare financially to avoid emergency investment losses. 11:26 Plan liquidity reserves for 9-18 months expenses. 13:07 Start with a $1,500 comfort fund first. 18:54 Prematurely selling investments causes stress, financial loss. 20:30 Start building an emergency fund for financial freedom.