Accounts Quote by Suze Orman
“Make it a priority to have at least eight months of living costs set aside in a federally insured bank or credit union account.”
About This Quote
Source Book: The Money Book for the Young, Fabulous & Broke, Suze Orman, 2005
Advise setting aside a cash reserve covering eight months of expenses in a safe, insured account to protect against financial emergencies.
In simple terms: Keep eight months of expenses saved in an insured account.
Key Takeaway
Build a solid emergency fund.
Themes
financial security
planning
risk management
Mood
practical
reassuring
Type
advice
financial
When to use this quote
- job loss
- medical emergency
- unexpected expenses
- home repairs
Key Concepts
liquidity
insurance
budgeting
Questions to Reflect On
- How much should you realistically save for your situation?
- What steps will you take to start building this fund?
A Different Perspective
Savings may be insufficient for prolonged crises; consider additional income streams.
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