HOW TO BUILD A CD LADDER #EmergencyFund
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After experiencing job loss in
After experiencing job loss in the past, it's important to me to work towards an extended emergency fund. In this video, I talk about how to use a CD ladder to break down savings into more manageable bite size chunks.
-I open a 1-year CD the first of every month.
(I will continue to do this until I have a CD to represent each month of the year)
-When each of these "time capsule" accounts reach the 1 year mark, I'll be able to put more money in...until they each have 1 month worth of expenses
-I will just keep rolling them over year-to-year...only taking the money out to cover bills for that specific month if there is a job loss
EXAMPLE: Job loss in January. Normal emergency fund savings will cover my January expenses, but then, I can pull out my February CD to cover February expenses. If I still haven't found a job by March, I will pull my March CD, etc...until I have secured a new position.
I look forward to working on my CD ladder every month. I hate saving, but this has made it exciting and fun!!
I also discuss a couple frequently questions about the CD ladder emergency funds.
Free copy of CD Ladder spreadsheet on Google Sheets:
https://docs.google.com/spreadsheets/...
MY ETSY SHOP
https://www.etsy.com/shop/DebtFreeJessie
#debtfreejourney #cdladder #emergencyfund
UPSIDE
use promo code JESS28423 to get an extra 15¢/gal bonus the first time https://upside.app.link/JESS28423
SOfi
$25 welcome bonus
Up to $250 bonus when you set up direct deposit
4.30% interest for your savings account when you set up direct deposit
https://www.sofi.com/invite/money?gcp...
RECEIPT HOG
earn a special bonus when you upload your first receipt. https://app.receipthog.com/r/bib35384
CHASE FREEDOM UNLIMITED
Earn a $200 cash back bonus when you spend $500 in purchases
1.5% CASHBACK ON ALL PURCHASES
https://www.referyourchasecard.com/18...
DOOR DASH
Become a DoorDash driver! Earn up to $25/hour Get a $20.00 bonus after 1 deliveries in 7 days for signing up here: https://drd.sh/Tk9OQjeXEkOqmK2Z/
CAPITAL ONE SAVOR ONE
Earn a $200 cash back bonus when you spend $500 in purchases
3% CASHBACK ON GROCERIES
https://capital.one/3IScvKC
Mint Mobile Referral:
http://fbuy.me/ugHU6
For Business Inquiries only:
[email protected]
Come save money on Fetch with me!
https://fetchrewards.onelink.me/vvv3/...
Any monetary support is applied directly to debt:
https://www.buymeacoffee.com/debtfree...
https://venmo.com/debtfreejessie
Disclaimer: Please note that I am not a financial professional. My videos are my personal experiences and not intended to be used for financial advice.
-I open a 1-year CD the first of every month.
(I will continue to do this until I have a CD to represent each month of the year)
-When each of these "time capsule" accounts reach the 1 year mark, I'll be able to put more money in...until they each have 1 month worth of expenses
-I will just keep rolling them over year-to-year...only taking the money out to cover bills for that specific month if there is a job loss
EXAMPLE: Job loss in January. Normal emergency fund savings will cover my January expenses, but then, I can pull out my February CD to cover February expenses. If I still haven't found a job by March, I will pull my March CD, etc...until I have secured a new position.
I look forward to working on my CD ladder every month. I hate saving, but this has made it exciting and fun!!
I also discuss a couple frequently questions about the CD ladder emergency funds.
Free copy of CD Ladder spreadsheet on Google Sheets:
https://docs.google.com/spreadsheets/...
MY ETSY SHOP
https://www.etsy.com/shop/DebtFreeJessie
#debtfreejourney #cdladder #emergencyfund
UPSIDE
use promo code JESS28423 to get an extra 15¢/gal bonus the first time https://upside.app.link/JESS28423
SOfi
$25 welcome bonus
Up to $250 bonus when you set up direct deposit
4.30% interest for your savings account when you set up direct deposit
https://www.sofi.com/invite/money?gcp...
RECEIPT HOG
earn a special bonus when you upload your first receipt. https://app.receipthog.com/r/bib35384
CHASE FREEDOM UNLIMITED
Earn a $200 cash back bonus when you spend $500 in purchases
1.5% CASHBACK ON ALL PURCHASES
https://www.referyourchasecard.com/18...
DOOR DASH
Become a DoorDash driver! Earn up to $25/hour Get a $20.00 bonus after 1 deliveries in 7 days for signing up here: https://drd.sh/Tk9OQjeXEkOqmK2Z/
CAPITAL ONE SAVOR ONE
Earn a $200 cash back bonus when you spend $500 in purchases
3% CASHBACK ON GROCERIES
https://capital.one/3IScvKC
Mint Mobile Referral:
http://fbuy.me/ugHU6
For Business Inquiries only:
[email protected]
Come save money on Fetch with me!
https://fetchrewards.onelink.me/vvv3/...
Any monetary support is applied directly to debt:
https://www.buymeacoffee.com/debtfree...
https://venmo.com/debtfreejessie
Disclaimer: Please note that I am not a financial professional. My videos are my personal experiences and not intended to be used for financial advice.
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در تاریخ 1402/04/10 منتشر شده
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